"Metlife steps up to take Meadowlands naming rights"

From SportsPro Media


Review by Matthew Per in KIN 435


The article that Kevin and I decided to present is titled “Metlife Steps up to Take Meadowlands Naming Rights.” The article was written by David Cushnan and posted in Sports Pro Media. It discusses that the new meadowlands stadium has yet to agree on naming rights to the stadium, until now. Its current sponsors are Verizon, Budweiser, Pepsi, and Metlife, but Metlife was the one that gave the best offer for naming rights. Metlife offered twenty million dollars for the next twenty years to receive the naming rights. This comes to a total of $400 million, over the twenty-year span. This is the most expensive naming rights deal done in the National Football League.

Even though this deal was expensive I agree with metlife that it will pay dividends. Metlife stadium is home to the New York Jets and New York Giants. While most stadiums have only one team, Metlife has two. This is double the publicity they are receiving. Also, the stadium will be hosting the 2014 Super Bowl, which will bring a good deal of attention to the stadium.

As Matt Higgins, the New York Jets' executive vice president of business affairs said, “It's got to be the right deal. The value proposition that we've offered is unlike anything anywhere in the country in that you're getting two NFL teams, but you're also getting the media capital of the planet.” This quote does a great job of summing up why I believe the naming rights of the New York Giants and New York Jets stadium was worth the amount of money they spent. Many would argue that New York is one of if not the most influential city in the world and now Metlife is a huge part of that.

---

Review by Kevin Matsunaga in KIN 435

The former Meadowlands Stadium, home to the New York Jets and the New York Giants, will be acquiring a new name for the next 20 years. It has been reported that the insurer Metlife has agreed to a deal that could have their name secure in the area in the largest marketing city in America. The stadium’s name has been changed to Metlife Stadium and it will last for 20 years. The New York Post has reported that the deal could be worth $20 million for 20 years, which sums up to a whopping $400 million in a two-decade span.

This sponsorship sale has large implications in the marketing world mostly because it stands in the mecca of world marketing. Matt Higgins, the New York Jets’ executive vice president of business affairs, said, “It’s got to be the right deal. The value proposition that we’ve offered is unlike anything anywhere in the country in that you’re getting two NFL teams, but you’re also getting the media capital of the planet.”

Metlife already has significant sponsorship rights at the stadium, which cost $1.6 billion when the contract began last year. Metlife is now one of four cornerstone partners with sponsorship deals at the new Metlife Stadium along with Verizon, Pepsi, and Budweiser.

Since the city of New York has two football teams, that makes this deal all the more juicy for Metlife. Sponsors of other NFL teams will only be able to market during the home games. Which in an NFL season will be a total of 8 games. But since Metlife Stadium is host to two NFL teams, that guarantees that their will be home games almost every week of the NFL season.