Academic journal article ABA Banking Journal

Put Your Name on a Ballpark?

Academic journal article ABA Banking Journal

Put Your Name on a Ballpark?

Article excerpt

Marketers Love sports tie-ins. They've bought radio and TV ad spots during broadcasts of professional sports games for generations. Also billboards at stadiums and naming rights for golf championships and long-distance runs. Bank marketers are no different in this regard.

But putting your name on a big-league stadium or arena? It's a once-in-a-lifetime brand promotion opportunity, as Comerica Corp. discovered with Comerica Park, the new home of the Detroit Tigers. But it's also a huge bite out of any marketing budget. Comerica ponied up $66 million in a 30-year deal, as reported in The Detroit News Last year citing The Bonham Group, a Denverbased sports marketer, as the source.

However, there can be valuable naming opportunities with minor league parks, as European American Bank, based in Uniondale, N.Y., has just shown. EAB won the right to put its name on a minor league stadium, EAB Park, the new home of the Long Island Ducks, an independent league team located in Central Islip, N.Y. Suffolk County built and owns the park, and EAB will pay it $230,000 a year for the next decade for naming rights to the building, which will be used for concerts as well as ball games.

According to Mark Anderson, EAB executive vice-president., the bank's move was prompted at least as much by community involvement as by brand promotion. …

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