Crandon Park Tennis Center Expansions In Doubt Mizzou Unveils Arena Renovation Project 49ers-Backed Tech Startup Looks For New Business Facility Notes Avalanche To Substantially Increase Payroll Arizona State To Build Student-Athlete Center Detroit Approves $450M For Arena Bonds Sacramento Republic FC Purchases Land For Stadium Braves' Naming-Rights Deal Worth $10M Annually Sources: NYC FC Eyes Aqueduct Area
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SBD/Issue 56/Facilities & Venues
Published December 3, 2001
NAMING RIGHTS: CNNMONEY.com's Chris Isidore has created a Stadium Sponsors Stock Index to "track the performance of 50 publicly traded companies paying for the right to have their names on stadiums," and Isidore wrote that it is "not something that would inspire investing in the next company to sign such a deal. ... Year-to-date, the total value of those companies' stocks are down about 19[%], with a loss of about $265[B] in market capitalization." While Enron is struggling financially, Astros President of Business Operations Pam Gardner said that there have been "no discussions about Enron not being able to continue" its sponsorship of Enron Field. Gardner added, "I don't know what the market is for [a new naming rights deal]. We haven't been out there soliciting for that. At this point, we're hoping we don't have to" (CNNMONEY.com, 11/30). Meanwhile, MD-based Gilco Sports & Entertainment Marketing co-Founder David Cope said of naming-rights deals: "There is certainly a movement going on toward the bigger, safer companies. Teams want somebody who will not only sign today but be around for the long haul" (WASHINGTON TIMES, 12/2).
NOTES: Detroit city officials said that they have issued a six-month holding letter to MI-based Nonrahs-Sinacola Stadium Redevelopment to convert Tiger Stadium to a redevelopment "showcase with a sports club, condos, stores, offices and a preserved baseball diamond able to host concerts and games" (DETROIT FREE PRESS, 12/1)....In Denver, Mike Klis reported that Rockies execs "are devoting their winter thinking of ways to alter the dimensions of Coors Field to make it friendly for pitchers" (DENVER POST, 12/2).