Naming rights

Legal right to give a name to a facility or event / From Wikipedia, the free encyclopedia

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Naming rights are a financial transaction and form of advertising or memorialization whereby a corporation, person, or other entity purchases the right to name a facility, object, location, program, or event (most often a sports venue), typically for a defined period of time. For properties such as multi-purpose arenas, performing arts venues, or sports fields, the term ranges from three to 20 years. Longer terms are more common for higher profile venues such as professional sports facilities.[1]

Delta-center.jpg
Delta Air Lines held the naming rights to the main indoor arena in Salt Lake City from 1991 to 2006. In 2023, Delta re-bought the naming rights.
Energysolutionsarena.jpg
The same arena was renamed EnergySolutions Arena (later Vivint Arena) in late 2006. Temporary signage covered up the previous Delta Center logo after the new naming rights sponsor was announced.

The distinctive characteristic for this type of naming rights is that the buyer gets a marketing property to promote products and services, promote customer retention and/or increase market share.

There are several forms of corporate sponsored names. For example, a presenting sponsor attaches the name of the corporation or brand at the end (or, sometimes, beginning) of a generic, usually traditional, name (e.g. Mall of America Field at Hubert H. Humphrey Metrodome); or, a title sponsor replaces the original name of the property with a corporate-sponsored one (as is the case with most sponsored sports venues), with no reference to the previous name.