The Giants expect to receive more than $15M per year from the Oracle deal, up from $4-5M from AT&TGIANTS
MLB Giants President & CEO Larry Baer described Oracle’s "prominence in the technology realm as instrumental" in the team's ballpark naming-rights agreement with the company, according to Ron Kroichick of the S.F. CHRONICLE. Baer said, “We’re in the center of technology and innovation, so it was really important to partner with a company in that world. We know technology will change in the next 20 years." When the Giants started looking for a new naming-rights partner, they "called a handful of companies, including Oracle, with which they already had a relationship." Baer said that the "first meeting with Oracle was Nov. 26, and then both sides 'worked at hyper-speed to put something together.'" This agreement "gives the Giants a fresh revenue stream." They now "figure to receive" more than $15M "annually from naming rights, compared" with $4-5M from their previous deal. Baer acknowledged that the deal "allows the team to take some risks, not only in free agency/player acquisition but also in fan experience." Baer "mentioned possible enhancements in electronic food ordering" and VR, but he "does not expect fans to see these upgrades" in '19 (S.F. CHRONICLE, 1/11). Oracle CEO Mark Hurd said negotiations were "fast and thoughtful because the depth and the trust in our relationships have gone on for years" ("Power Lunch," CNBC, 1/10).
LOCAL FEEL: In S.F, Ann Killion writes it "would be wonderful if the Giants named their stadium 'Willie Mays Park.'" However, that is "not realistic" with the "money at stake." The Giants "aren’t exactly hitting hard times, but they could use a cash infusion." With the Warriors playing their final season at Oracle Arena, the company "clearly didn’t want its association with a local sports team to vanish, and placing it right next to the Warriors’ new home, smack in the heart of a thriving technology alley, seems a no-brainer." The Giants are "happy that they have a new partner that has local ties, something that wasn’t the case with AT&T," and Oracle "isn’t likely to vanish anytime soon" (S.F. CHRONICLE, 1/11).
