Stadium naming rights…. a help or a hindrance?
MetLife Stadium has been chosen as the host stadium for the biggest sports event on the planet, the FIFA World Cup Final. Back in 2011, MetLife were reported to have paid $400,000 for a 25-year deal with the NY Giants and NY Jets, the joint owners of the stadium. When it comes to the big day, MetLife will not have their brand anywhere in the stadium and will not be mentioned on any media collaterals or tv broadcast, unless they strike separate agreements directly with FIFA.
The announcement of FIFA’s decision could be seen to be valuable enough, with MetLife trending all last week on social channels. Would you, as a company, see the value in spending more? I’m sure the MetLife marketing team will meticulously review the data over the next year to see if it’s a worthwhile add-on.
MetLife Stadium, formally Giants Stadium, was the location of one of Ireland's most famous victories vs. Italy 30 years ago. “Rayyy Houghton.” How many people thought about this game when the announcement was made last week? Has this sponsorship deal faded the memories?
Back in Dublin, Aviva will go through the same for Euro 2028; Lansdowne Road was among the first to broker a stadium naming rights deal in Ireland, an essential investment considering the stadium's cost. Recently, the GAA has realized the “SuperValu” in allowing for naming rights of Pairc Ui Chaoimh, albeit with some backlash from the traditionalists, the cost of which was approx. €110m to build. Making business decisions that preserve history while growing and funding sports is now a significant part of commercial directors’ roles.
Regarding the English Premier League, teams need to catch up on the uptake of naming rights, with Etihad (Man City) and Emirates (Arsenal) being notable exceptions. Are Man United and Liverpool leaving considerable money on the table, money that could go a long way to revamping their aging stadiums?
Naming rights are an essential revenue generator to help the growth of sports and alleviate stadium maintenance costs. It should become more common in years to come in our favorite arenas across the world as long as history is never forgotten!
