They did not have an open bidding process for Ford Field and the Ford's used part of the money for the stadium construction. The financing for the new arena is already in place and Ilitch would be stupid to not take the most money for naming rights. It makes zero financial sense to name the arena after his own company when there's others willing to pay a hefty price for it. It's not 2002, stadium naming rights today can go for as much as $200 million.
BTW, here's the info on Ford Field:
"In February 2002, Ford entered into a Stadium Naming and License Agreement with the Lions pursuant to which we acquired for $50 million the naming rights to a new domed stadium located in downtown Detroit at which the Lions began playing their home games during the 2002 National Football League season. Pursuant to a Concession and Management Agreement between the Lions and the City of Detroit Downtown Development Authority, the Lions have been granted the right to build, operate and use the stadium, including the right to name the stadium or sell that right. We have named the stadium "Ford Field." The term of the naming rights agreement is 25 years, commencing with the 2002 National Football League season. Of the $50 million naming rights fee, which has been used by the Lions to fund in part the construction of the stadium, $30 million was paid in February 2002, $17.5 million was paid in March 2002 and the balance was paid in December 2002. Benefits to Ford under the naming rights agreement include exclusive exterior entrance signage and predominant interior promotional signage. We have analyzed the value of our benefits under the naming rights agreement (including an assessment of the fees paid and benefits received under other naming rights agreements) and we believe the value of our benefits is at least equal to the naming rights fee we paid." What's interesting here is that it has been widely reported that the deal was for $40 million, and such deals are typically paid over each year of the deal. The naming rights agreement was first announced in 1996. In this case, the Lions got the money spread over the stadium's first year, and could use the cash to pay down the capital debt.
MeijerArena.com was also registered in January and ChaseArena.com some time last year. It probably means nothing because they could register a different name like LC Center or Meijer Garden.
The last time I spoke with someone who works for Olympia, he said there was a bidding war between three companies that already sponsors the Wings. My guess would be... GM/Chevrolet, Flagstar Bank and DTE. Coke could also be in the running since they passed on the new stadiums in Atlanta.
These are renders from Project Ten (who for Olympia) with Coke as the sponsor.
Could a name change be in the works for The Palace of Auburn Hills?
It's possible, says Tim Schuler, Detroit Pistons senior vice president for partnership development.
Schuler, speaking to reporters Friday evening after an unveiling for the renamed West Atrium, says team and venue officials are actively seeking a naming rights partner for the 21,231-seat arena.
"We're actually in the marketplace for naming rights to The Palace," Schuler said. "We went through in the market probably six or eight months ago, on the naming rights of The Palace."
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They did not have an open bidding process for Ford Field and the Ford's used part of the money for the stadium construction. The financing for the new arena is already in place and Ilitch would be stupid to not take the most money for naming rights. It makes zero financial sense to name the arena after his own company when there's others willing to pay a hefty price for it. It's not 2002, stadium naming rights today can go for as much as $200 million.
BTW, here's the info on Ford Field:
"In February 2002, Ford entered into a Stadium Naming and License Agreement with the Lions pursuant to which we acquired for $50 million the naming rights to a new domed stadium located in downtown Detroit at which the Lions began playing their home games during the 2002 National Football League season. Pursuant to a Concession and Management Agreement between the Lions and the City of Detroit Downtown Development Authority, the Lions have been granted the right to build, operate and use the stadium, including the right to name the stadium or sell that right. We have named the stadium "Ford Field." The term of the naming rights agreement is 25 years, commencing with the 2002 National Football League season. Of the $50 million naming rights fee, which has been used by the Lions to fund in part the construction of the stadium, $30 million was paid in February 2002, $17.5 million was paid in March 2002 and the balance was paid in December 2002. Benefits to Ford under the naming rights agreement include exclusive exterior entrance signage and predominant interior promotional signage. We have analyzed the value of our benefits under the naming rights agreement (including an assessment of the fees paid and benefits received under other naming rights agreements) and we believe the value of our benefits is at least equal to the naming rights fee we paid." What's interesting here is that it has been widely reported that the deal was for $40 million, and such deals are typically paid over each year of the deal. The naming rights agreement was first announced in 1996. In this case, the Lions got the money spread over the stadium's first year, and could use the cash to pay down the capital debt.
http://www.crainsdetroit.com/article/20120820/BLOG003/120829997/mm3rdqb-how-much-ford-motor-co-really-paid-the-lions-for-stadium
Harbaugh has already won this battle. I think the petition by DPJ's mom is starting to make a difference. It's got over 8,000 signatures in less than a day. If anyone didn't sign it yet.... https://www.change.org/p/mark-emmert-memmert-ncaa-org-overturn-ncaa-ban-on-satellite-camps
MeijerArena.com was also registered in January and ChaseArena.com some time last year. It probably means nothing because they could register a different name like LC Center or Meijer Garden.
The last time I spoke with someone who works for Olympia, he said there was a bidding war between three companies that already sponsors the Wings. My guess would be... GM/Chevrolet, Flagstar Bank and DTE. Coke could also be in the running since they passed on the new stadiums in Atlanta.
These are renders from Project Ten (who for Olympia) with Coke as the sponsor.
Could a name change be in the works for The Palace of Auburn Hills?
It's possible, says Tim Schuler, Detroit Pistons senior vice president for partnership development.
Schuler, speaking to reporters Friday evening after an unveiling for the renamed West Atrium, says team and venue officials are actively seeking a naming rights partner for the 21,231-seat arena.
"We're actually in the marketplace for naming rights to The Palace," Schuler said. "We went through in the market probably six or eight months ago, on the naming rights of The Palace."