Chiefs Hire IMG To Find Naming Rights Sponsor For Arrowhead
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Chiefs Tap IMG To Secure
Naming Rights Deal For Arrowhead |
The Chiefs "have hired IMG to sell naming rights to Arrowhead Stadium after a similar deal with Premier Partnerships didn't produce a deal," according to Don Muret of SPORTSBUSINESS JOURNAL. Chiefs VP/Sales & Marketing Tammy Fruits said that the six-month contract with IMG "took effect Aug. 1 and carries a renewal option for an additional six months." Premier Partnership's one-year deal expired in November. Since then, the Chiefs' sales staff "has talked to a few naming-rights candidates," and Chiefs Senior VP/Administration Bill Newman said that the "most serious discussions took place with a regional bank." Muret writes, "Despite the economy and the fact that the Arrowhead name has been on the stadium since it opened in 1972, the Chiefs remain confident they can find a company to pay them $5.5[M] a year over 20 years, a deal concurrent with the team's building lease." Newman said that the team "would prefer to keep Arrowhead in the title but would consider a different approach." IMG Senior VP Gary Pluchino, referring to the Chiefs' late owner, said, "People in Kansas City have a great affinity for Arrowhead and the name is a link back to Lamar Hunt." The team and Premier Partnerships "shared the task of selling naming rights for new premium clubs, a hall of fame, children's learning center and other improved spaces that are part of the stadium's $375[M] renovation set for completion in 2010." The Chiefs' sales force "now takes over full responsibility for finding sponsors for those areas, as well as naming rights for the team's new training facility." Pluchino said that this is IMG's "first naming-rights assignment in the NFL, though the firm has worked with other teams on stadium financing and sponsorship sales" (SPORTSBUSINESS JOURNAL, 9/1 issue). Newman said that the Chiefs also hope to secure a naming-rights deal worth "$800,000 for the practice facility." Newman: "IMG has far-reaching tentacles that go throughout this nation and globally, and we're going to do a six-month deal with them and see how it goes." Pluchino "will oversee the project from" N.Y. (K.C. STAR, 8/29).
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