Quote of the Day
"Don't we need companies advertising now more than ever, whether that’s on a stadium or a race? What has happened is grandstanding by Congress and grandstanding by the media has held up various companies for ridicule."
-- Texas Motor Speedway President Eddie Gossage, on calls that companies receiving TARP funds should not title sponsor sports events (STAR-TELEGRAM, 2/26).
Top Stories
Dollars & Sense
With no end in sight to the economic crisis taking every business for a spin, the scrutiny surrounding each dollar spent on sports continues to gain steam. U.S. Rep. Barney Frank lashes out against companies for "insensitive" spending on sports sponsorships, saying naming-rights deals simply are "ego boosts" for executives. While Frank acknowledges that Congress cannot force companies to break existing contracts, he believes the government can "put in some pretty strict conditions going forward." The PGA Tour reportedly is lobbying Capitol Hill to curtail the legislative criticism of federally-aided companies still activating around their sponsorships. But in the wake of the increased criticism, Wells Fargo and U.S. Bancorp quickly announce plans to downsize their involvement with golf events.
TARP Recipients Under
Fire For Sports Spend
Message Received
Details begin to emerge of Vincent's e-mail correspondence over agent information.
Royal Pain
RBS to cut 50% of annual sports sponsorship spending, with F1 hit "harder than most."
Knight In Shining Armor
Rutgers names CBS College Sports Network Exec VP/Content Tim Pernetti as AD.
Taking A Bite Out Of The Apple
Yankees drop price of 600 obstructed-view bleacher seats in new ballpark to $5.
The Tale Of One City
While floundering Nationals fire Rijo in wake of Dominican prospect scandal, Capitals are on pace to break franchise attendance records.
Rookie Mistake
MLB Network sees first blunder, missing opening 15 minutes of Giants-Indians game.
Sky's The Limit
Sky TV to title sponsor U.K. cycling team, aiming for inclusion in '10 Tour de France.
Opening Ceremony
Former USOC exec Steve Roush to lead new business group for TSE Consulting.
