Sporting venues with corporate names are near ubiquitous–stay strong, Fenway Park!–because those naming rights can net a fortune. One of the largest deals, for the New York Giants and Jets’ MetLife Stadium, was $400 million over 25 years. Now cash-strapped cities want in. Some recent deals:
Downtown Chicago’s Millennium Park is home to the BP Pedestrian Bridge. The naming rights to the Frank Gehry-designed winding silver structure cost British Petroleum $5 million.
When it snows in Indy, Cargill’s name comes marching to the rescue. The company provided the city with 125 tons of salt and five Ford F-250 trucks bearing the name Indy Snow Force Powered by Cargill.
For in-kind donations and time valued at $100,000 in 2012 and $50,000 every year following, Country Music Television bought the rights to McGavock High School’s communication center, now known as the CMT Academy of Digital Design and Communication.