Twins Could Bring In Nine Figures From Target Field Naming Rights
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Target Inks 25-Year Naming-Rights
Deal For Twins' New Ballpark |
Several sports analysts estimated that the 25-year marketing deal between the Twins and Target that includes the naming rights for Target Field "could be worth $100[M] or more" over the length of the deal, according to Heron Marquez Estrada of the Minneapolis STAR TRIBUNE. St. Louis-based attorney Steven Korenblat, who helped Citi negotiate its naming-rights deal for the Mets' new ballpark, said estimating the Twins' naming rights at $8M annually "would not seem extravagant." But other sports marketers said that the Twins deal was "more likely in the range of [$5-6M] a year." Milwaukee-based consulting firm Absolutebrand analyst Brad Sarna: "I tend to go toward the lower end ... given the small market, a slowing economy and the fact the Twins haven't won the World Series in a long time." Sarna said that he "would not be surprised if the deal were worth as little as $3[M] a year." Analysts said that the naming-rights fee "would be well worth the national and international coverage Target Field will receive in coming years, especially if the Twins make the playoffs or ... host the [MLB] All-Star Game in 2014." Target also holds the naming rights to the Target Center, home of the T'Wolves, and Sports Business Group President David Carter said that it is "unusual for a sponsor to have naming rights at two adjacent major venues." But Carter added that the ballpark deal "suggests Target is seeking to make an even stronger connection to the fans in its home market" (Minneapolis STAR TRIBUNE, 9/16). In St. Paul, Gita Sitaramiah notes Target is "not the first company with two stadiums to be named after it, though other dual efforts are in separate cities." American Airlines currently has naming rights for NBA arenas in Dallas and Miami (ST. PAUL PIONEER PRESS, 9/16).
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