Sponsorship sales at Mercedes-Benz Stadium have surpassed $900M in "contractually obligated sponsorship revenue," according to sources cited by Terry Lefton in this week's SPORTSBUSINESS JOURNAL. The "original target" of the Falcons' new stadium, which is set to open next summer, was $1B. AMB Group, the facility's parent company, would not confirm the $900M figure, though officials said that they are confident that the $1.5B stadium will "break a record in stadium sponsorship revenue." AMB officials are also "confident they will end up with the most contractually obligated sponsorship income of any U.S. stadium, topping recent sales figures" for the Cowboys at AT&T Stadium and the 49ers at Levi’s Stadium. The Falcons' figure "should last at least" until the Rams’ facility opens in Inglewood in '19. Falcons President & CEO Rich McKay said, "People just don’t give [Atlanta] enough credit. We have the third most Fortune 500 companies headquartered here, and those CEOs and their companies are actively engaged. That’s something we’ve been able to take advantage of, and I think the Braves have, too.” Lefton notes Premier Partnerships is "assisting the Falcons with sponsorship sales at the new facility" (SPORTSBUSINESS JOURNAL, 11/28 issue).
YOU'RE HIRED: The Hawks yesterday announced that Atlanta Joint Venture was selected to serve as construction manager for the $192.5M renovation of Philips Arena. AJV is comprised of Turner Construction Company, AECOM Hunt, SG Contracting and Bryson Constructors. SG and Bryson both are based in the Atlanta area. Turner is the controlling partner of AJV and will provide project management and support staff. AECOM Hunt will lead preconstruction efforts and provide on-site field supervision (Hawks).
