Naming Rights Go Beyond the Brand—And Business Is Booming
Earlier this week, Sports leader Richard Brand and associate Christina Campbell published an article with American Lawyer Media analyzing the recent uptick in naming rights transactions that is expanding beyond sports arenas and stadiums.
As Rich and Christina note, the hot trend is likely to continue because naming rights "allow both partners and rights holders to reap numerous benefits, provide the opportunity to realize both 'quick money' and 'long term money,' and are recognized for their ability to marry sponsorship rights with enhanced customer experiences."
"Take the Golden 1 Center, for example. As part of its naming rights transaction for the arena in Sacramento, California, Golden 1 Credit Union included automatic ticket discounts for all of its bank patrons, discounts on merchandise, access to venue tours, and a fast-pass lane for its patrons in all concessions stands at the Golden 1 Center. This new focus of naming rights deals opens up the possibility for even broader partnership opportunities and benefits that will enhance the consumer experience."
To read the entire article, click here.