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PSINET SAYS IT WILL KEEP STADIUM NAME DESPITE LOSSES
Published November 6, 2000
VA-based PSINet reported a third quarter loss of $1.38B
last week, but company execs say that it is "too soon to
say" whether the "travails" of the company will affect the
company's naming rights agreement at Ravens' stadium,
according to William Patalon III, of the Baltimore SUN.
PSINet Senior VP/Corporate Marketing & Communications Robert
Leahy: "As the guy who cut that deal, who sees the 3 1/2
million people who drive by that stadium on I-95, who
finally got CBS to wake up and use the stadium's proper
name, and who sees that the Army-Navy game is going to be
played there, the last thing I want to do is to relinquish
the naming rights." When asked how the financial problems
of PSINet might affect the partnership with the team, Ravens
VP/PR Kevin Byrne said, "It's a private matter between two
companies." While PSINet said late last week it will look
to reduce some of the company's assets, Leahy said that the
stadium naming rights "will not be among those assets that
get sold." Leahy: "Though we were criticized for what we
paid at the time, the value of those rights has probably
gone up since then" (Baltimore SUN, 11/4).






