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Rutgers In Search of Naming Rights Sponsor

We should be getting a good indicator of the impact of the global credit crisis and the global recession on sports fairly soon. Rutgers is in the process of expanding its football stadium and, in conjunction with the expansion, is seeking to sell the naming rights for "somewhere in the $1.5 million to $2 million range." Supposedly there are four companies now interested.

Should Rutgers get that much and should it get at least a fifteen year deal, that would make the deal one of the higher naming rights deals in place for a college facility. It would indicate that the naming rights market remains strong despite the economy and should certainly make the New York Giants and New York Jets very, very happy. The Giants and the Jets are in the market trying to sell the naming rights to their new stadium under construction at the Meadowlands. Their target is to exceed the current market top reached by the Mets with CitiField opening next season. That deal is worth $400 million over 20 years, a figure matched by the New Jersey Nets for their new arena in Brooklyn with Barclays as the rights holder.

Full post as published by Sports Biz on October 24, 2008 (boomark / email).