Lucas Oil Founder Believes Naming-Rights Deal For Colts' Stadium Already Paid For Itself
Lucas Oil Products Inc. Founder Forrest Lucas believes the company has "already gotten its money's worth" from its $121.5M naming-rights deal for the Colts' stadium, according to Anthony Schoettle of the INDIANAPOLIS BUSINESS JOURNAL. The company is in the seventh year of a 20-year deal that is worth $6.1M annually, and Lucas prior to Monday's Jets-Colts game said, "We're definitely getting more out of it than what we paid. It's been a real good deal for us." Lucas Oil Stadium since opening in '08 has hosted two men's Final Fours, Super Bowl XLVI and a "bevy of other big events." Lucas said that there have been "two key factors that have led to such a positive return on investment" -- the Super Bowl and the Colts' "consistent winning." He added that sales for Lucas Oil have "nearly doubled since it signed the naming rights deal" just before the start of the '08 season. Lucas: "This is one of the biggest marketing initiatives this company has ever made and I know it has made a huge difference." Schoettle noted Lucas Oil last year began a sponsorship deal with Colts QB Andrew Luck, and Luck and the company this summer "finished shooting their latest commercial which will start airing" in the Indianapolis area this week (IBJ.com, 9/22).