- MSNBC/AP, Monday, February 11, 2008 12:15 PM
As several of the most storied franchises in sports replace their stadiums, sports marketing experts expect corporations to pay record amounts for the right to name them.
Already sold for
record numbers: rights to the New York Mets' new stadium, purchased by Citigroup for more than $400 million over 20 years. Next up, the Chicago Cubs--as its new owner, Sam Zell, says he wants revenue
from the historic ballfield that still bears the name of a former owner that pays nothing to call the stadium Wrigley Field.
But the deal expected to set naming rights records is the new
football stadium for the New York Giants and New York Jets in East Rutherford, N.J. The stadium would create a historic proposition--the most value ever offered, in the most expensive media market,
and for two NFL franchises, says Marc Ganis, president of SportsCorp Ltd. He predicts the deal will go for at least $25 million to $30 million annually.
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