Twenty years ago, when professional sporting teams started selling naming rights to their stadiums and arenas, many purists called it a low point in the commercialization of sports. But today, the number of arenas and ballparks not named after a corporate sponsor is small. For revenue-seeking team owners, it is just too hard to pass up the money that comes with selling your stadiums’ name. Strategy, business development and marketing all play huge factors in naming-rights deals, with top prices for these deals reaching about half a billion dollars, according to Sports Business Journal.
Two times a year, we publish a report of our work and activities for a just-ended six-month period. This Semiannual Report to Congress (or SARC, as we affectionately call it) is required by law, but it’s also a chance for us to share our record of work with our many stakeholders.
The work...Read More