Twin Engine: Execs Brett & Michael Yormark Profiled
Nets Sports & Entertainment President & CEO BRETT YORMARK and NHL Panthers President MICHAEL YORMARK are profiled by NEWSWEEK's Johnnie Roberts, who writes the identical twins’ “affable natures and brash acumen are fast making them two of the most successful and influential figures in the multibillion-dollar business of pro sports.” The Yormarks’ “singular talent is in finding new ways to wring money out of a business where every conceivable piece of equipment and square inch of stadium space has already been sold to the highest bidding sponsor.” Their “game is to help their ‘marketing partners’ ... win over new and repeat customers -- the fans who are watching live (and on TV), engulfed in a blaze of logos, brand names and ads displayed on monitors, scoreboards and announcer tables.” Michael got security firm ADT to advertise “inside the shaft of a glass elevator" at BankAtlantic Arena, while Brett “convinced Wrigley to sponsor the Nets during an entire off-season." Michael has been “on a hot streak in Florida" despite the club not making the playoffs since '00, as attendance “has grown yearly, with season-ticket sales up 5[%].” He also helped to sell $1M in PSLs, boosted suite sales by over $2.5M a year and signed ADT to a $3.5M annual deal to brand the ADT Club. Meanwhile, Brett “brought to the Nets an eye for sponsorship that he honed” as NASCAR VP/Corporate Marketing. The “pitch zone at Izod Center now extends to every nook and cranny.” Cruise line World Yachts sponsors a street-level passageway, Tiffany sponsors the Franchise Room, a dining room for team owners, and Marquis Jets sponsors the VIP lounge (NEWSWEEK, 12/17 issue).
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