Mile High is a fantastic name for a sporting venue, so you can’t blame the people of Denver for for wanting to keep it for the stadium where the Broncos play. Instead, the entity that runs the stadium sells the naming rights to the football field, which the now-defunct sporting goods retailer Sports Authority bought in 2011. After not selling in the company’s intellectual property auction, the naming rights are for sale separately. Bids are due on Tuesday, July 19, at 3 PM Mountain time. If you’re interested.
Before you start imagining your name on a stadium, keep in mind that the naming rights deal is at what auctioneer Hilco Streambank calls “well below market rates,” since the new sponsor would be the third company to take over the original deal from when the stadium was built in 2001.
Investment firm Invesco was the original sponsor, and it kept up on the payments, but ultimately sold the contract to Sports Authority in 2011. At the time, the Denver Post noted that the company’s marketing efforts had shifted, and they were pursuing investment advisors directly rather than getting their name out to consumers. Invesco was happy to hand the deal over to Sports Authority.
The deal runs for five more football seasons, but with the original bargain-basement price of $6 million per year. “As the Super Bowl champions, there will likely be many nationally televised games,” a Hilco Streambank executive vice president points out in the company’s statement about the sale. “This is not an opportunity that comes along very often.”
The winner would have to replace the signs on the stadium exterior at its own expense. There are a few limits on who can win the auction: the Broncos and the stadium district may be allowed to reject any winning bids that they find unsuitable, and the brand and name would have to conform to NFL rules. Even though the sale of marijuana for recreational use is legal for adults in Colorado, the NFL and the stadium district do not want any pot-related businesses to win the contract. (Warning: pop-up auto-play video at that link)
Stadium Naming Rights Acquisition Opportunity Sports Authority Field at Mile High [Hilco Streambank] (via Denver Post – warning: auto-play video)
by Laura Northrup via Consumerist
No comments:
Post a Comment
Found it interesting comment