Miller Brewing Co. announced the purchase of naming rights
yesterday for the proposed new Brewers ballpark in a deal worth
more than $40M over 20 years. The new facility will be named
Miller Park (Miller Brewing). The brewery will pay $41.2M over
20 years for naming rights and have exclusivity on in-stadium
malt beverage signage. But the "optimism" from the announcement
"was tempered" by today's noon deadline by which the Brewers must
come up with $90M as their share of the $250M cost of the
stadium. The $90M was to include $40M from naming rights and
concession revenue, but Brewers VP Laurel Prieb said the Miller
deal "does not provide" the $40M the team needs because the
payment is not up-front. Prieb said the team is "still working"
on details of the $40M contribution and a $50M loan from
NationsBank. A source familiar to the Miller talks said the
Brewers "pushed hard" for an additional upfront payment of $10-
15M, but Miller CEO Jack MacDonough "held steady" on $2M a year
for 20 years. In a final concession, Miller agreed to make an
upfront payment of $1.2M this year, with the $2M starting in '99
and continuing for 20 years. Prieb said the team sold only
naming rights and malt signage exclusivity, leaving "other things
such as broadcasting rights still to be sold" (Kenneth Lamke,
MILWAUKEE JOURNAL SENTINEL, 3/22). Brewer pitcher Scott Karl:
"They could have gone with MGD Stadium. How 'bout Miller Lite
Park? How about High Life Stadium?" 1B John Jaha: "Does this
mean we'll have beer in the clubhouse?" (MILWAUKEE JOURNAL
SENTINEL, 3/22).
