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Magic signs Geico for founding partner spot at arena
Published August 30, 2010
The Orlando Magic has signed Geico as the fourth founding partner for Amway Center, its new $480 million arena opening in October.
The insurance firm signed a five-year deal valued in seven figures annually. In turn, Geico receives naming rights to a seven-level parking garage being built next to the arena and a skywalk connecting the two buildings, said Magic President Alex Martins.
The city of Orlando owns the garage and shares in the revenue, Martins said. He would not disclose the split.
Geico is also title sponsor of the 15-minute halftime countdown clock, a creative tie-in with the firm’s advertising hook, “15 minutes could save you 15 percent” on insurance. During that break, Geico’s logos will appear on all concourse and club level signs and in the arena restaurant, he said.
As one of six Champions of the Community partners, the term the Magic uses to describe its founding partners, Geico will also receive brand exposure on two outdoor signs, the arena marquee and a digital billboard on the building’s east wall facing Interstate 4.
Geico has been a team sponsor for 12 years and will continue to receive exclusive brand exposure in the automotive, boat, RV and motorcycle insurance categories after the team moves into Amway Center, he said.
Geico joins PepsiCo, AirTran Airways and Harris Corp. as top-level sponsors. The team expects to announce two more in the coming weeks, Martins said.
It’s not the first case of naming rights for arena parking garages in the NBA. The Houston Rockets and Memphis Grizzlies have deals with Toyota for their garages.
The Magic’s first regular-season game at its new facility is Oct. 28 against the Washington Wizards. The club’s first preseason game is Oct. 10. As of last week, the first ticketed event at Amway Center was set for Oct. 7, an Eagles concert. Another concert could be booked earlier, Magic officials said.