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Naming Rights

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SPORTS
June 29, 2001 | By Jim Salisbury INQUIRER STAFF WRITER
The Phillies will begin making money from their new ballpark even before the first bucket of popcorn or designer beer is sold. During negotiations over financing with the city and the state, the team insisted on having control over the ballpark's naming rights. The Phillies could sell those rights for a record sum of money, an expert in the field of corporate stadium sponsorship said yesterday. "The Phillies have a good shot of breaking the record for a baseball stadium," said Mike Reisman, principal of Velocity Sports Entertainment.
NEWS
September 8, 2014 | By Paul Nussbaum, Inquirer Staff Writer
Market East Station, the 30-year-old subterranean commuter rail hub beneath Center City, will be renamed Jefferson Station in a multimillion-dollar deal between SEPTA and Jefferson Health System. SEPTA, Jefferson, and city officials will unveil new signs Thursday at a news conference in the station. The deal will mean millions of dollars for SEPTA and increased public exposure for Jefferson, whose Thomas Jefferson University Hospital complex is just two blocks south of the station.
NEWS
November 19, 1997 | by Edward Moran, Daily News Sports Writer
Yesterday, the nature of big business caught up with the sports-arena naming-rights game with the takeover of CoreStates Bank by First Union Bank. That probably will result in a change of address for the Flyers and Sixers. According to Peter Luukko, president of the CoreStates Complex, which includes the new CoreStates Center and the old CoreStates Spectrum, the contract between CoreStates and Comcast-Spectacor has a "succession clause" that allows for a change in the names of the two buildings.
BUSINESS
July 3, 2015 | By Andrew Maykuth, Inquirer Staff Writer
When the Philadelphia Union concludes its Major League Soccer season in October, it's likely to be the team's last game in Chester's PPL Park. Don't fret, fans. The venue doesn't change. Only the name of the stadium. PPL Corp., the Allentown energy company best known for its electric utility, last month formally spun off its competitive power-generation business into a new company called Talen Energy. The new company, also based in Allentown, includes PPL's retail energy business, which marketed power under the brand name PPL Energy Plus.
NEWS
May 13, 2003 | By Larry Eichel INQUIRER STAFF WRITER
In the coming weeks, the Phillies will do something that is commonplace now but was unheard of the last time they moved into a new stadium. They will sell the naming rights to the place. The buyer may be Citizens Bank, as has been rumored, or some other firm. The price figures to be in the range of $3 million per year for 20 years, those familiar with the business say. Such deals, at the right price and with the right match, work for both parties. The team gets a vital and reliable revenue stream.
NEWS
May 19, 2001 | By Patricia Horn INQUIRER STAFF WRITER
The developer of the Penn's Landing entertainment center is close to signing a $10 million naming-rights agreement with Philadelphia cable company Comcast Corp., according to the president of the Penn's Landing Corp. If this deal, which has not been finalized, goes ahead, it would be a significant step toward closing the funding gap that the project's developer says has contributed to the delay in starting construction on the Center City waterfront site. Melvin Simon, the nation's largest shopping-center developer, has been trying to recruit additional investors and sign a naming-rights deal with Comcast for the last year.
NEWS
June 18, 2003
By next year, the word citizens is going to be heard around Philadelphia as often as it was in Paris during the French Revolution. In what is your typical naming-rights deal, Citizens Bank has agreed to pay the Philadelphia Phillies $57.5 million to slap its name on the team's new ballpark in South Philadelphia for the next 25 years. At $2.3 million a year, the Phils' deal is in the middle ranks of naming rights revenue for Major League Baseball. The Eagles got $139.6 million to christen their costlier new home Lincoln Financial Field - but football deals tend to be more lucrative.
NEWS
May 13, 2003 | By Larry Eichel INQUIRER STAFF WRITER
The Flyers have played their last game in the First Union Center. And pretty soon, the Sixers will play theirs, too. No, the teams aren't going anywhere, and neither is the arena. Only the name will change. In a few months, the building that opened as the CoreStates Center in 1996 will be rechristened the Wachovia Center, its third name in seven years. Such are the perils of the naming-rights game. Names of businesses change, and sports facilities must follow. Even when companies don't go down the tubes, they get bought up, merge, and establish new identities.
SPORTS
January 30, 1997 | by Edward Moran, Daily News Sports Writer
There are no cars for sale at General Motors Place. There are no flights out of the Delta Center or the Trans World Dome. While you can get a beer at Coors Field, it's not brewed inside. And banking isn't the main business at the Core-States Center. What goes on inside these places are baseball, basketball, football or hockey games. And the names have nothing to do with sports and everything to do with corporate advertising. In the team owners' ever-expanding quest for revenue sources, naming rights to arenas and stadiums have become as much a part of the game as luxury boxes and television contracts.
NEWS
June 2, 2000 | by Dave Davies, Daily News Staff Writer
With only two weeks left to try and craft stadium deals, sources say Mayor Street's stadium negotiating team is increasingly pessimistic about ever finding the $225 million extra his chosen Center City site will cost. Before he can even get to issues like Chinatown opposition and relocating residents, Street has to negotiate a business deal with skeptical sports teams, which think they gave all they could in the proposed deal they cut with then-Mayor Rendell last year. "You already have a deal that doesn't work," lawyer David L. Cohen, who is representing the Phillies, said when Street announced the new site at 12th and Vine streets.
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BUSINESS
July 3, 2015 | By Andrew Maykuth, Inquirer Staff Writer
When the Philadelphia Union concludes its Major League Soccer season in October, it's likely to be the team's last game in Chester's PPL Park. Don't fret, fans. The venue doesn't change. Only the name of the stadium. PPL Corp., the Allentown energy company best known for its electric utility, last month formally spun off its competitive power-generation business into a new company called Talen Energy. The new company, also based in Allentown, includes PPL's retail energy business, which marketed power under the brand name PPL Energy Plus.
NEWS
September 8, 2014 | By Paul Nussbaum, Inquirer Staff Writer
Market East Station, the 30-year-old subterranean commuter rail hub beneath Center City, will be renamed Jefferson Station in a multimillion-dollar deal between SEPTA and Jefferson Health System. SEPTA, Jefferson, and city officials will unveil new signs Thursday at a news conference in the station. The deal will mean millions of dollars for SEPTA and increased public exposure for Jefferson, whose Thomas Jefferson University Hospital complex is just two blocks south of the station.
NEWS
September 6, 2014 | By Paul Nussbaum, Inquirer Staff Writer
Thomas Jefferson University Hospitals will pay $4 million for a five-year deal to put the Jefferson name on SEPTA's Market East commuter rail station in Center City. For an extra $3.4 million, Jefferson can keep the naming rights for an additional four years - a decision it will make at the end of its initial term. SEPTA will get 85 percent of the money, and its New York-based advertising agency, Titan Worldwide, will get 15 percent, officials said. The new Jefferson Station name was unveiled in ceremonies Thursday morning at the 30-year-old subterranean rail hub. Stephen Klasko, president and CEO of Thomas Jefferson University and Jefferson Health System, said the name would raise Jefferson's presence in the region and demonstrate its desire "to provide access to everyone.
NEWS
December 18, 2013 | By Robert Moran, Inquirer Staff Writer
The Earle Mack School of Law is no more. The naming rights for the law school at Drexel University are available again, only five years after the school was named for an alumnus who had donated $15 million to the school. Mack, a businessman and former ambassador to Finland, graduated from Drexel in 1959. In a statement issued Monday, the university said the decision was mutual, "that Ambassador Earle Mack has graciously stepped aside as naming benefactor of Drexel's law school.
NEWS
December 5, 2013 | By Troy Graham and Susan Snyder, Inquirer Staff Writers
City Council moved Tuesday on a long-percolating idea to raise money for the School District of Philadelphia - by selling advertising space on district buildings. The chief sponsor of the plan, Councilwoman Blondell Reynolds Brown, noted that large school districts around the country already sell ads on schools and buses. She said selling ads here would provide "much-needed revenue" for a district grappling with a $304 million budget shortfall. "So imagine, like in California, a West Philadelphia football field paid for by Nike," she said before the Rules Committee approved her bill.
NEWS
June 22, 2011 | By Tom Canavan, Associated Press
PISCATAWAY, N.J. - The birthplace of college football will get $6.5 million over the next 10 years to put a new name on its football stadium. Rutgers University announced Tuesday that its 54,454-seat stadium would be known as High Point Solutions Stadium. Athletic director Tim Pernetti said the money paid by a Sussex County information technology company will go to the football program so it can stay competitive at the highest level. "The bottom line is, the football program has given us the opportunity to generate these additional dollars," Pernetti said of the team that has gone to bowl games five of the last six years, this past season being the exception.
NEWS
June 21, 2011 | By Tom Canavan, Associated Press
BEDMINSTER, N.J. - Rutgers University's football stadium is getting a new name. According to a source familiar with the negotiations, Rutgers has reached a deal with High Point Solutions for naming rights. The person spoke on condition of anonymity because the university's athletic department has scheduled a news conference for Tuesday to announce the partnership. High Point is based in Sparta and supplies companies with information-technology hardware and support. The stadium announcement comes nearly a year after the university hired Brooklyn Sports & Entertainment and IMG College to act as agents in making a deal for naming rights.
SPORTS
July 1, 2010
Rutgers is looking to sell the naming rights to its football stadium and basketball arena. The university announced Wednesday that it has hired Brooklyn Sports & Entertainment and IMG College to act as agents in making a deal. The football stadium in Piscataway has long been called Rutgers Stadium. The nearby basketball arena is known as the Louis Brown Athletic Center, but is more popularly known as the Rutgers Athletic Center. The company that owns KFC, Taco Bell and Pizza Hut recently signed a 10-year, $13.5 million contract to put its name on a new basketball arena in Louisville, where Rick Pitino's Cardinals play.
NEWS
June 21, 2010
WHAT'S IN A NAME? If you're SEPTA, about $3 million. That's what the transit authority will net from a $5 million deal to change the name of the subway station at Broad and Pattison to "AT&T Station. " If SEPTA approves the deal on Thursday, Pattison Station will be a memory by August. What's also in this name is an irresistible urge to offer other branding possibilities: How about renaming the City Hall for Ballard Spahr, the law firm of choice for so much public work? The Independence Hall stop on the Market-Frankford Line would be a perfect placement for Liberty Mutual or US Airways.
NEWS
June 18, 2010 | By Sam Wood, Inquirer Staff Writer
AT&T may soon be on the line - the Broad Street Line. Cash-strapped SEPTA is considering a proposal to sell the naming rights to the southernmost subway stop. AT&T has offered $5 million to change the name of the Pattison station, which serves the Sports Complex in South Philadelphia. What's next, City Hall? (No Fumo jokes, please.) "Most likely not," SEPTA spokesman Richard Maloney said of the City Hall station. "But we would certainly entertain ideas on renaming other stations.
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