Bradley Center Seeks $30M For Building Naming Rights
Officials Seeking At Least $30M For
Naming Rights To Bradley Center
Bradley Center officials "want at least $30[M] over 10 years," for the naming rights to the arena, according to a source cited by Mark Kass of the BUSINESS JOURNAL OF MILWAUKEE. The Bonham Group, which has been retained to negotiate the deal, has begun to "target 29 prominent Milwaukee-area companies," all of whom are already sponsors of the Bucks. If none of the 29 targeted companies agree to buy the naming rights, The Bonham Group's agreement with the Bradley Center states that Bonham then "may talk to other Milwaukee-area firms that are not Bucks' sponsors, along with national and international companies." Bonham Group Chair Dean Bonham said that he would "not be surprised if the center's naming rights drew interest from companies in China" due to Bucks F Yi Jianlian. Kass notes Bonham already has been paid $25,500 for an analysis of the Bradley Center's naming rights potential, and the firm will earn $10,200 a month for the next 12 months. If Bonham signs one of the 29 firms, it will receive 2.5% of the overall purchase price, and if it finds a naming rights sponsor on its own, it will receive 5% (BUSINESS JOURNAL OF MILWAUKEE, 2/29 issue).
I don't see anyway the Bradley Center is going to pull in $30M/10yr.
Brand new baseball and football stadiums average around $2 million a year on naming rights. The exception being Citi Field which will be bringing in $20 million a year.
I just can't see a company justify paying $30M/10yr for an aging arena.
Kohler could do it.
but then folks might call it 'The Crapper' or 'The Toilet Bowl'
My money's on Rockwell.
They've been advertising more during Bucks' games this year at the BC for the Chinese audience. Rockwell bought Allen-Bradley, where the original Bradley Center money came from. It makes sense.
"The Rockwell Bradley Center".
Quote from: BrewCity on March 04, 2008, 01:36:44 PM
My money's on Rockwell.
They've been advertising more during Bucks' games this year at the BC for the Chinese audience. Rockwell bought Allen-Bradley, where the original Bradley Center money came from. It makes sense.
"The Rockwell Bradley Center".
I agree, they are already dropping six figures to advertise in Chinese at the games this year and their Asian sales growth is 20% a year. Plus, the Chinese audience/broadcasters are unaware and/or probably don't care about the history of the Bradley Center's name, making it easy for a new name to fill that mind space when it's announced during games.
Here's a Urnial article about Rockwell's advertising
http://www.jsonline.com/story/index.aspx?id=706679
I bet it will be a Chinese company... The Bradley Center will now be the Peking Palace.
can you imagine the nice toilets - if Kohler ran it!
I think they already have Kohler urinals in there...I'll check tonight.
I work for Rockwell and I highly doubt that we will sponsor the Bradley center. We recently dropped our sponsorship of a car on the NASCAR circuit and I know the cost was a lot less than 30 million.
Quote from: Schoonts on March 04, 2008, 02:26:09 PM
I bet it will be a Chinese company... The Bradley Center will now be the Peking Palace.
Actually, how about China Garden at the Bradley Center? :P
Quote from: BrewCity on March 04, 2008, 02:32:27 PM
I think they already have Kohler urinals in there...I'll check tonight.
I've actually checked on that and if memory serves, I think they're Chicago Faucet. I'm guessing I only remember that because I was so surprised to see that they weren't Kohler. Looking forward to your report, BrewCity.
Quote from: TallTitan34 on March 04, 2008, 12:53:38 PM
I don't see anyway the Bradley Center is going to pull in $30M/10yr.
Brand new baseball and football stadiums average around $2 million a year on naming rights. The exception being Citi Field which will be bringing in $20 million a year.
I just can't see a company justify paying $30M/10yr for an aging arena.
Lets call Dubai. they have plenty of our money.
A little bit off topic but Chicos I saw a huge four-page Directv Mega March Madness ad inside ESPN the Magazine this past weekend. On one of the fake screen shots showing a bracket, it has Marquette as a four seed beating UWM, a 13 seed. Just wondering if you had anything to do with that?
Although Rockwell advertises at Bucks games, naming rights for the arena would be a huge financial step up from their current sponsorship levels, with little real benefit. Though Rockwell is experiencing huge sales growth in Asia, the tactic of naming an American arena to cater to Chinese customers would be far less effective than the simple banner ad they currently purchase.
Additionally, they're a B2B company -- aside from Cintas and Oracle, there aren't many business-to-business entities that can justify marketing spend on arena naming rights. And $30MM is a substantial amount, even for BigCorps like ROK.
The most likely purchaser of naming rights will be a primarily-B2C company with close local ties (either headquarters or major operations) that views the spend as reasonable to increase name recognition and community standing.
Think along the lines of the following:
American Family
Kohl's
Kohler Co.
Menards
M&I
Northwestern Mutual (although "It's time for a quiet arena" doesn't have the best ring to it)
US Bank (doesn't really matter that there's already a US Bank Arena in Cincy)
WE Energies
Wells Fargo
I wouldn't close the door on GE, JCI, Manpower, Rockwell etc. if they push naming rights in the interest of improving their perception in the community, but the return on marketing investment would be difficult to justify for any of these companies.
They would have to be crazy. I'm ashamed to say that I helped usher in the name Monster Park for the dump formerly known as Candlestick Park. If there was ever a bigger waste of money...it really has the opposite of the desired effect. Within 48 hours there were literally thousands of pieces of hate mail. There have been several studies done that have concluded that there is little benefit derived from renaming an old stadium. Plus the fans hate it. In the case of Monster, it was especially stupid because everyone assumes it's Monster.com and not Monster Cable, the asylum I once worked at.
I did get to kick fieldgoals so it wasn't a total failure.
Quote from: IAmMarquette on March 04, 2008, 04:27:14 PM
Quote from: BrewCity on March 04, 2008, 02:32:27 PM
I think they already have Kohler urinals in there...I'll check tonight.
I've actually checked on that and if memory serves, I think they're Chicago Faucet. I'm guessing I only remember that because I was so surprised to see that they weren't Kohler. Looking forward to your report, BrewCity.
Confirmed. Kohler, it is. And they appear to be holding up quite well after 20 years.
Quote from: TT13 on March 04, 2008, 09:56:11 PM
A little bit off topic but Chicos I saw a huge four-page Directv Mega March Madness ad inside ESPN the Magazine this past weekend. On one of the fake screen shots showing a bracket, it has Marquette as a four seed beating UWM, a 13 seed. Just wondering if you had anything to do with that?
Yup...that was me. I actually created that last year and we used the same screen shots again this year.
If you look at the names of the courts in the ad there's some funny stuff there too. Like "Stern court" is named after one of the guys in our department.
Quote from: Rhodescholar on March 05, 2008, 12:43:04 AM
They would have to be crazy. I'm ashamed to say that I helped usher in the name Monster Park for the dump formerly known as Candlestick Park. If there was ever a bigger waste of money...it really has the opposite of the desired effect. Within 48 hours there were literally thousands of pieces of hate mail. There have been several studies done that have concluded that there is little benefit derived from renaming an old stadium. Plus the fans hate it. In the case of Monster, it was especially stupid because everyone assumes it's Monster.com and not Monster Cable, the asylum I once worked at.
I did get to kick fieldgoals so it wasn't a total failure.
I tend to agree with you. For years I was on the other side of the fence (like you) buying naming rights. I wouldn't even look at a property if it was an established property. It's a good deal if you get in on the ground floor like Staples Center or another property from day 1 and that's all the public knows. But when you come in 20 years after the fact....very little value. It's like the MECCA...I know it's US Cellular Arena but I would always call it the MECCA or the Arena and many others do too.
Quote from: ChicosBailBonds on March 05, 2008, 09:18:42 AM
Quote from: Rhodescholar on March 05, 2008, 12:43:04 AM
They would have to be crazy. I'm ashamed to say that I helped usher in the name Monster Park for the dump formerly known as Candlestick Park. If there was ever a bigger waste of money...it really has the opposite of the desired effect. Within 48 hours there were literally thousands of pieces of hate mail. There have been several studies done that have concluded that there is little benefit derived from renaming an old stadium. Plus the fans hate it. In the case of Monster, it was especially stupid because everyone assumes it's Monster.com and not Monster Cable, the asylum I once worked at.
I did get to kick fieldgoals so it wasn't a total failure.
I tend to agree with you. For years I was on the other side of the fence (like you) buying naming rights. I wouldn't even look at a property if it was an established property. It's a good deal if you get in on the ground floor like Staples Center or another property from day 1 and that's all the public knows. But when you come in 20 years after the fact....very little value. It's like the MECCA...I know it's US Cellular Arena but I would always call it the MECCA or the Arena and many others do too.
What about you think about Wrigley?
Real Chili Arena at the Bradley Center.
end of discussion. :D
Quote from: marqptm on March 05, 2008, 09:21:05 AM
Quote from: ChicosBailBonds on March 05, 2008, 09:18:42 AM
Quote from: Rhodescholar on March 05, 2008, 12:43:04 AM
They would have to be crazy. I'm ashamed to say that I helped usher in the name Monster Park for the dump formerly known as Candlestick Park. If there was ever a bigger waste of money...it really has the opposite of the desired effect. Within 48 hours there were literally thousands of pieces of hate mail. There have been several studies done that have concluded that there is little benefit derived from renaming an old stadium. Plus the fans hate it. In the case of Monster, it was especially stupid because everyone assumes it's Monster.com and not Monster Cable, the asylum I once worked at.
I did get to kick fieldgoals so it wasn't a total failure.
I tend to agree with you. For years I was on the other side of the fence (like you) buying naming rights. I wouldn't even look at a property if it was an established property. It's a good deal if you get in on the ground floor like Staples Center or another property from day 1 and that's all the public knows. But when you come in 20 years after the fact....very little value. It's like the MECCA...I know it's US Cellular Arena but I would always call it the MECCA or the Arena and many others do too.
What about you think about Wrigley?
I wouldn't touch it with a 10 foot pole.
Quote from: Marquette Gyros on March 05, 2008, 12:25:30 AM
Although Rockwell advertises at Bucks games, naming rights for the arena would be a huge financial step up from their current sponsorship levels, with little real benefit. Though Rockwell is experiencing huge sales growth in Asia, the tactic of naming an American arena to cater to Chinese customers would be far less effective than the simple banner ad they currently purchase.
Additionally, they're a B2B company -- aside from Cintas and Oracle, there aren't many business-to-business entities that can justify marketing spend on arena naming rights. And $30MM is a substantial amount, even for BigCorps like ROK.
The most likely purchaser of naming rights will be a primarily-B2C company with close local ties (either headquarters or major operations) that views the spend as reasonable to increase name recognition and community standing.
Think along the lines of the following:
American Family
Kohl's
Kohler Co.
Menards
M&I
Northwestern Mutual (although "It's time for a quiet arena" doesn't have the best ring to it)
US Bank (doesn't really matter that there's already a US Bank Arena in Cincy)
WE Energies
Wells Fargo
I wouldn't close the door on GE, JCI, Manpower, Rockwell etc. if they push naming rights in the interest of improving their perception in the community, but the return on marketing investment would be difficult to justify for any of these companies.
How about "Man"power they could use it as part of their name change from the patriarchical politically incorrect "MAN" to Personpower or peoplepower or ?? ;D