What’s in a name? For sports fans, the front row would smell as sweet no matter what you call it, but for sports franchises, the moniker on the marquee of the stadium is a big deal.
With the price tag for a prospective new facility and surrounding development estimated as high as $1.8-billion, getting good money for naming rights will be an important factor in the deal.
The corporate naming of sports and entertainment facilities, ranging from stately pleasure domes to small-town community centres, is a growing business, experts say.
“I guess it’s a sign of the times,” says Sammy Redlick, corporate lawyer and partner at Torkin Manes LLP in Toronto, who has analyzed a number of naming rights deals.
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