Continental Out As Nets', Devils' Arena Naming-Rights Partner
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Continental Airlines Ending Naming-
Rights Deal For Devils', Nets' Arena |
Continental Airlines is “no longer paying for its name to be on” the Devils’ and Nets’ arena, according to Terry Lefton in this week’s SPORTSBUSINESS JOURNAL. Sources said that the New Jersey Sports & Exposition Authority (NJSEA) has hired Nets Sports & Entertainment President Brett Yormark to find a new naming-rights partner. The Continental Airlines nameplate will not be removed from the arena until a new naming-rights sponsor is signed. While Continental paid $29M in December '95 for the original 12-year naming-rights agreement, sources said that the NJSEA would be “happy with an annual low-seven-figure title deal.” The Nets will move to Barclays Center in Brooklyn for the ’09-10 season; that naming-rights deal is estimated at $400M over 20 years (SPORTSBUSINESS JOURNAL, 7/23 issue).
AT&T: In a separate piece in SPORTSBUSINESS JOURNAL, Lefton reports AT&T is “looking hard" at naming rights at the Cowboys’ new stadium, and "industry chatter" has Cowboys Owner Jerry Jones “using the b-word (as in billion) when it comes to naming rights -- about the same number as the projected cost of the new facility.” AT&T Exec Dir of Sponsorships & Events Eric Fernandez said, “We’ve had some conversations and there are reasons for any partner to get in there early and be part of the (stadium) infrastructure. But for AT&T right now, it’s not much beyond the rumor stage” (SBJ, 7/23 issue).
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