Naming Rights Deal in the Works

Naming Rights Deal in the Works

According to SportsBusiness Journal, talks are progressing between the Giants, Jets, and MetLife for naming rights to the New Meadowlands Stadium.

Except for the fact that it produced no revenue whatsoever,there was nothing wrong with the name The New Meadowlands Stadium for the new Meadowlands Stadium where the Giants and Jets make their home.

That situation appears nearing a resolution, however. MetLife, a major insurance company with no ties at all to Nazi Germany, appears to be closing in on a deal for overall naming rights that will net the teams between $17 and $18 million per year.

You may recall the public relations mess caused in 2008 when the teams almost signed up with Allianz for a deal that would net them between $20 and $30 million per season, only to cut off the talks when word of the German insurance company's ties with the Nazis and subsequent cheating of Holocaust survivors from benefits they'd paid for came to light.

Rest assured, MetLife has no such skeletons in its rather spacious walk-in closet. But SportsBusiness Journal reports that the corporations are playing in the $17 to $18 million ballpark, which represents a significant comedown in the teams' original pricing.

SBJ reported the talks are "very advanced" and that other interested companies are being told naming rights are no longer available.

MetLife already sponsors a corner of the New Meadowlands Stadium. If the deal goes through, that corner would be put up for sale, which would add to the Giants' and Jets' revenue.

Undoubtedly, such a deal would create added talk and some concern at the negotiations over a new CBA, especially if reports that the players and owners are working on a near 50-percent split of TOTAL revenues is correct.

The question for the common fan, however, is whether anyone would take to calling the one-year-old stadium by its corporate name. Or would they simply stick with New Meadowlands Stadium, as San Franciscans do with the much-renamed Candlestick Park?

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