Exam 2 Study Questions.pdf - Naming Rights 1 Identify at...

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Naming Rights 1. Identify, at least, four concepts that are included in the definition of naming rights? Naming rights are (i) a form of title sponsorship (ii) whereby a corporation or other entity purchases (iii) the right to name a facility (iv) in exchange for monetary payments, (v) typically for a defined period of time 2. Discuss some common facts related to naming rights (e.g., terms usually range from three to 20 years, longer terms are more common) Usually, for properties like a multi-purpose arena, performing arts venue or stadiums, as per industry convention, the term ranges from three to 20 years Longer terms are more common for higher profile venues such as a professional sports facility In the first half of the 20th century, almost all facilities were built for baseball and, to a lesser extent, hockey 3. Some of the baseball stadiums built during the 40s were named after the names of team owners. Give three examples. Comiskey park (charles comiskey) Home of the chicago white sox of the american league from 1910-1990 Ebbets field (charles ebbets) Home of the brooklyn dodgers (NY) baseball team from 1913-1957 Shibe park A baseball park located in philadelphia from 1909-1953 4. Give examples of the first few stadiums that were named after a company name? Fenway park The home of Red Sox First stadium named after company Real estate called Fenway realty William Wrigley the chewing gum magnate and owner of Chicago cubs, named stadium wrigley field 5. In 2000s, the first highest paid fee for naming rights belongs to________________? Citibank for NY mets, 20 mil for 20 years 6. Discuss the public views of/reaction towards some of the naming right deals. It is mixed, better when sold to new venues then older venues, is also helpful when the brand has a strong local tie 7. Naming rights deals usually contain provisions such as_________________? Principal identification of the building “Advertising signs” on the building, at entrances, and on the playing surfaces “Advertising” on the program Luxury suits Ticket discounts Radio And television spots Logos on ‘everything’ from trash cans to tickets; and badges on uniforms
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1. Term (length of deal) A. long term (typically 15 to 20 years) B. renewal options (typically 5 years) 2. Consideration (payment) A. Cash amount 1. Upfront payments 2. Annual payments 3. Escalator clause (2 to 5% per year) 3. Expenses (who pays for signage?) 4. Signage: how much? Where placed? What kind? What size? 5. Promotional rights (use of team mark's/players) 8. What are some of the reasons why many professional sports teams are struggling to sell the naming rights to their venues? If the facility is older and has a name already associated with it companies are less likely to want to sponsor the venue because they will not be associated with it as much as if it was a new venue.
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  • Spring '18
  • Finance, Debt, Major League Baseball, naming rights, Sport Organizations, broadcast model

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