The NFL is asking Coca-Cola "to sign a six-year deal
more than doubling its current annual sponsorship fees," but
the league's "fat demands are being resisted by Coke,"
according to Fatsis & Deogun of the WALL STREET JOURNAL.
The proposed deal is valued at over $210M and would be the
"richest" in pro sports. Coca-Cola execs have told NFL
officials that "the deal is far too costly," and as of last
night "the two sides remained far apart." Coca-Cola's
"senior management" has informed other key execs that the
company "was prepared to step away from its partnership with
the league." Coke's exclusive negotiating period with the
NFL expires February 1 (WALL STREET JOURNAL, 1/26).
TASTE TEST? Fatsis & Deogun report that "aside from
balking at the price of the deal, Coke is asking the NFL for
some major sweeteners, such as toppling longstanding NFL
sponsor Gatorade and installing Coke's Powerade brand as the
league's official sports drink." Coke currently pays about
$14M per for its NFL agreement, not including expenditures
on NFL media-tie ins and promos (WALL STREET JOURNAL, 1/26).
