Magic, Fields Auto Group Ink Naming-Rights Deal for Amway Center Clubs
Magic CEO Alex Martins said that Fields Auto Group has "signed a three-year deal" with the Magic to take over naming rights for Amway Center’s two event-level clubs, "tripling the value of those premium spaces over the previous agreements,” according to Don Muret of SPORTSBUSINESS JOURNAL. The new deal is “valued in the mid-six figures" annually, and “rebrands the Mercedes-Benz Star Lounge as the Fields Ultimate Lounge." It is reserved "for 300 courtside seat holders and 700 additional season-ticket holders sitting in the first seven rows in the lower bowl.” The deal also renames the former Chairman’s Suite presented by the Ritz-Carlton Destination Club as the Icon Suite. Icon is “the dealership’s brand to describe the Bentley, Rolls-Royce and Lamborghini automobiles that it sells.” Martins said that both clubs "became popular among the team’s high-end clientele and several companies approached the Magic expressing interest in buying naming rights after the original deals expired.” Magic officials also said that Mercedes-Benz and Ritz-Carlton had "first right to renew their deals but decided against signing extensions after the Magic approached both companies with definitive numbers higher than what they originally paid to brand those rooms.” The Icon Suite, “the smaller of the two rooms," is 80% sold with about 150 members. The seating inventory tied to the Fields Ultimate Lounge is "close to being sold out as well.” Martins said that the "'pure cash' deal also covers naming rights for the Fields Luxury Valet, the arena’s valet parking program." It is the "first time the team has branded valet parking" (SPORTSBUSINESS JOURNAL, 9/30 issue).