Alligator In The Swamp: Izod Signs Arena Naming-Rights Deal
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Izod Lands Naming Rights To
Arena At The Meadowlands |
The NJSEA has unanimously selected Izod as the naming-rights partner for the arena at the Meadowlands, formerly called Continental Airlines Arena. The activation of the five-year deal for the Izod Center will be in place by October 31, when the Nets open the regular season against the Bulls. The two other bids for naming rights came from Rocawear and Southpole (NJSEA). In Newark, Maura McDermott reports Izod, already a Nets sponsor, will pay $1.4M per year, with $750,000 going to the NJSEA and the rest to the Nets. The company will also provide marketing worth $600,000 and uniforms for employees worth $100,000. The deal "more than doubles the cash paid to the authority for the arena naming rights." While Continental paid $1.3M for the rights, the NJSEA received $340,000 in cash plus $346,000 in airline tickets; the Nets and Devils each received $268,000. NJSEA Chair Carl Goldberg indicated that Southpole offered $2.1M for the naming rights, but Izod’s “all-out marketing push made it a better deal.” Nets President & CEO Brett Yormark said that Izod will promote the arena via a Times Square billboard, trucks in New York, New Jersey and Connecticut, and other ads. The Prudential Center in Newark opens on October 25, and NJSEA Board member David Jefferson said, “This sends a strong message that not only are we alive, but I think this takes us to the next level.” Allen Sirkin, CEO of Izod's parent company Phillips-Van Heusen, indicated that Izod wanted the naming rights “because it lines up with the brand’s sports-inspired image and its marketing to men, women and children.” Sirkin: “The match was very clear on Izod’s part.” Sirkin added that he has “friendly relationships” with Live Nation regional managers, and that he "hopes to use those to bring shows” to the arena. Prudential Center is managed by AEG (Newark STAR-LEDGER, 10/5). NJSEA VP James Minish "said there will be cosmetic changes throughout the building." Minish said there will be "changeable decorations, as we go from basketball to concert to family shows. It will brighten up the arena and give it a fresh new look" (Bergen RECORD, 10/5).
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