Basketball HOF Close To Putting Title Sponsorship Package On The Market

The Basketball HOF is "close to putting a title sponsorship package on the market," according to Terry Lefton in this week's SPORTSBUSINESS JOURNAL. Sources indicated that the HOF has been "quietly conducting a search for a sales agency for months." That search has been "winnowed to two and is expected to be completed within a few weeks." There is "no word on whether the corporate moniker would supplant or be used in conjunction with the current name of the 52-year-old institution, the Naismith Memorial Basketball Hall of Fame." Lefton notes a title sponsorship would make it the "first sports hall of fame to sell title rights." HOF officials are "hoping for at least $1 million a year" from a title partner, though the package price "would fall to the agency selected" (SPORTSBUSINESS JOURNAL, 3/21 issue).