Trail Blazers Sign 10-Year Naming-Rights Deal With Moda Health Valued At $40M
The Trail Blazers today announced regional health insurance provider Moda Health has signed a 10-year naming-rights agreement to rename the Rose Garden as the Moda Center. Sources valued the deal at $40M. Television, radio and digital advertising inventory are included in the sponsorship and naming-rights package. Moda also will receive sponsor benefits with the Seahawks and MLS Sounders, which are also part of Trail Blazers Owner Paul Allen's Vulcan Sports & Entertainment. The deal brings an end to a six-month search for the Trail Blazers' first naming-rights partner. Team President Chris McGowan, who joined the organization last November, made a naming-rights deal a priority when he joined the franchise. He hired California-based Premier Partnerships to lead the sales effort. The company focused on several categories including healthcare, technology and financial service. It approached Moda after learning that the company, which was formerly known as ODS Health, was renaming itself. McGowan said the company saw an opportunity to promote its new name by rebranding the Rose Garden, which hosts 200-plus events a year. The Trail Blazers have hired a local advertising agency to create a new logo for the Moda Center. The logo, which is expected to be completed by the end of September, will feature a rose in it. McGowan said, “We’re always going to be conscious of the Rose Garden. It’s part of our history and heritage. Paul Allen is OK with us doing a deal, but he wants us to incorporate a rose in the logo of the arena. We are doing that.” Moda reported revenue of $1.6B and profit of $10.4M in FY ‘11. The company also has a jersey sponsorship with the NWSL Seattle Reign FC.
BEHIND THE DEAL: Premier Partnerships Senior Dir of Corporate Partnerships Uzma Rawn first contacted Moda Health regarding the naming-rights opportunity. Premier President Randy Bernstein and Marketing Dir Erin Prober also worked on the deal. Trail Blazers Senior VP/Corporate Partnerships Steve Scott and McGowan represented the team. Moda President Dr. William Johnson and CMO Steve Wynne, who previously worked at adidas, led the deal for the health insurer.