Naming Rights Agreement Stadium

The naming rights in the United States could be traced back until 1912 with the opening of Fenway Park in Boston. The owner of the stadium owned a real estate company called “Fenway Realty” (itself named after a nearby park), so the advertising value of the name was taken into account. [8] Yet it is believed to have started in 1926 when William Wrigley, the chewing gum magnate and owner of the Chicago Cubs, called his team`s stadium “Wrigley Field”. In 1953, Anheuser-Busch chief and St. Louis Cardinals owner August Busch proposed to Jr. to rename Budweiser Stadium the Cardinals-occupied Sportsman Park. [9] When this idea was rejected by Ford Frick, then a baseball commissioner, Anheuser-Busch proposed the title of “Busch Stadium” after one of the company`s founders. The name was easily approved and Anheuser-Busch then released a new product called Busch Bavarian Beer. The name was changed in 1966 in Busch Memorial Stadium, was abbreviated in the 1970s at bush stadium and remained the name of the stadium until closing in 2005. That`s when Major League Baseball`s policy – with Coors Field in Denver and Miller Park in Milwaukee during that time – changed and Anheuser-Busch (who retained the naming rights after the team`s sale) was able to use the same name for the Cardinals` new stadium, which opened on April 4, 2006. Foxboro Stadium, home of the New England Patriots between 1970 and 2001, was an early example of a team that sold naming rights to a company it did not own and named Stadium after the beer company from its construction until 1983. From time to time, the purchaser of the naming rights to a stadium may donate these rights to an external organization with which he is generally closely linked. Perhaps the most notable example is the Friends Arena, a large stadium in Stockholm.

The facility was originally known as the Swedbank Arena, but in 2012 the company donated the rights to the Friends Foundation, an organization that aims to combat school harassment, strongly sponsored by Swedbank. [6] More recently, the Kentucky Farm Bureau, an organization that promotes the interests of Kentucky farmers and is best known to the non-farm public for its insurance activities, acquired the naming rights to the university of Kentucky`s new baseball park in 2018. The Farm Bureau, on the other hand, donated these naming rights to the Kentucky Department of Agriculture and designated the Kentucky Proud Park site. The sponsored name is the trademark used by this state agency in its marketing campaign for agricultural products produced in that state. [7] Given the increase in television rights revenues for EPL clubs (and a comparison with the NFL in the United States), these clubs may be less tempted to agree on title sponsorship agreements that have the potential to significantly influence the club and stadium personalities. A contract for stadium naming rights of 20 million pounds a year may not be as attractive to these clubs as it used to be, particularly because of the potential long-term problems a club may have in getting rid of a stadium name in the event of an unpopular or damaging event in which the sponsor is involved. The public response to this practice is mixed. Appellation rights sold at new sites have been widely accepted, especially if the buyer is well established and has strong local connections in the area, such as the cases of Rich Stadium (now New Era Field) in the suburbs of Buffalo Orchard Park, Heinz Field in Pittsburgh and Coors Field in Denver.