Post by TheShadow on Apr 17, 2009 16:25:31 GMT -5
www.insidebayarea.com
By Chris Metinko
Oakland-Alameda County Coliseum officials are ratcheting up efforts to get a new sponsor for the home of the A's and Raiders.
The Oakland Alameda County Coliseum Authority authorized Coliseum staff to negotiate a contract with the Los Angeles-based sports marketing firm Premier Partnerships in efforts to find a new name for the old stadium Friday.
"We thought it was best if we hired a professional firm to help find a sponsor," said Deena McClain, executive director of the authority. "We don't know what's out there right now. We know the economy's not great, and we have two tenants who are nearing the end of their lease. We hope Premier will help find out what's available."
The Coliseum has been without a sponsor since September, when McAfee Inc. decided not to renew its 10-year sponsorship contract and the stadium reverted back to its original name — the Oakland-Alameda County Coliseum.
McAfee had been making annual payments of nearly $1.1 million— with 5 percent annual increases — for the stadium's naming rights.
The authority's contract with McAfee prohibited the authority from starting new contract talks for the naming rights with any other company until the McAfee deal had officially expired. Now, with the economy still in the doldrums, what kind of deal Premier can help facilitate — and how long will it take — is the hot question?
"The economy definitely presents a challenge, but these deals are always a challenge," said Allison Howard, vice president of corporate partnerships at Premier. "Deals are being done. Right now is a great time for companies that have cash flow. They have great opportunities to make deals and market their name."
Howard pointed to a recent deal Premier completed last month concerning the sports arena at San Diego State University. The naming rights were sold to the Viejas Band of Kumeyaay Indians, which operates a casino, an outlet center and other businesses at its reservation just east of school's campus. The naming rights will cost the Indian band $6.9 million over 10 years.
"I think the Coliseum has great potential," Howard said. "Right now, it has two major league tenants and Oakland is a great market."
Those tenants also may become a hindrance to a deal. Both the A's and Raiders' leases expire in 2010 — although the A's have a series of one-year renewal options — and it is widely known the A's are actively seeking a new venue to play in.
"That doesn't necessarily complicate a naming deal," said Rob Yowell of Phoenix-based Gemini Sports Group. "Whoever wants to enter into a sponsorship deal will know the situation. It may not be a 20-year deal, but there is money out there.
Yowell helped broker the 10-year, $30-million naming rights deal for Oracle Arena in 2006.
"The thing with older stadiums like the Coliseum is they've had different names," Yowell said. "Now you have to find a way to put a new coat of paint on it and spin it in a new way. That's the hard part."
Regardless, Yowell said with two major league teams and the Bay Area as the region, a deal likely can be found.
"There's something out there," Yowell. "I'm sure Premier will find it."
McClain said in a perfect world a new sponsor would be found before the Raiders open their new season in the fall.
"You don't know," McClain said. "Maybe someone will look at this as a great opportunity and bargain."
The Coliseum's name was changed to Network Associates Coliseum in 1998, after the company agreed to a five-year deal with an option for an additional five years. In 2004, Network Associates Coliseum was renamed McAfee Coliseum, in accordance with the company being renamed.
By Chris Metinko
Oakland-Alameda County Coliseum officials are ratcheting up efforts to get a new sponsor for the home of the A's and Raiders.
The Oakland Alameda County Coliseum Authority authorized Coliseum staff to negotiate a contract with the Los Angeles-based sports marketing firm Premier Partnerships in efforts to find a new name for the old stadium Friday.
"We thought it was best if we hired a professional firm to help find a sponsor," said Deena McClain, executive director of the authority. "We don't know what's out there right now. We know the economy's not great, and we have two tenants who are nearing the end of their lease. We hope Premier will help find out what's available."
The Coliseum has been without a sponsor since September, when McAfee Inc. decided not to renew its 10-year sponsorship contract and the stadium reverted back to its original name — the Oakland-Alameda County Coliseum.
McAfee had been making annual payments of nearly $1.1 million— with 5 percent annual increases — for the stadium's naming rights.
The authority's contract with McAfee prohibited the authority from starting new contract talks for the naming rights with any other company until the McAfee deal had officially expired. Now, with the economy still in the doldrums, what kind of deal Premier can help facilitate — and how long will it take — is the hot question?
"The economy definitely presents a challenge, but these deals are always a challenge," said Allison Howard, vice president of corporate partnerships at Premier. "Deals are being done. Right now is a great time for companies that have cash flow. They have great opportunities to make deals and market their name."
Howard pointed to a recent deal Premier completed last month concerning the sports arena at San Diego State University. The naming rights were sold to the Viejas Band of Kumeyaay Indians, which operates a casino, an outlet center and other businesses at its reservation just east of school's campus. The naming rights will cost the Indian band $6.9 million over 10 years.
"I think the Coliseum has great potential," Howard said. "Right now, it has two major league tenants and Oakland is a great market."
Those tenants also may become a hindrance to a deal. Both the A's and Raiders' leases expire in 2010 — although the A's have a series of one-year renewal options — and it is widely known the A's are actively seeking a new venue to play in.
"That doesn't necessarily complicate a naming deal," said Rob Yowell of Phoenix-based Gemini Sports Group. "Whoever wants to enter into a sponsorship deal will know the situation. It may not be a 20-year deal, but there is money out there.
Yowell helped broker the 10-year, $30-million naming rights deal for Oracle Arena in 2006.
"The thing with older stadiums like the Coliseum is they've had different names," Yowell said. "Now you have to find a way to put a new coat of paint on it and spin it in a new way. That's the hard part."
Regardless, Yowell said with two major league teams and the Bay Area as the region, a deal likely can be found.
"There's something out there," Yowell. "I'm sure Premier will find it."
McClain said in a perfect world a new sponsor would be found before the Raiders open their new season in the fall.
"You don't know," McClain said. "Maybe someone will look at this as a great opportunity and bargain."
The Coliseum's name was changed to Network Associates Coliseum in 1998, after the company agreed to a five-year deal with an option for an additional five years. In 2004, Network Associates Coliseum was renamed McAfee Coliseum, in accordance with the company being renamed.