Comments on: What To Do When You’ve Got $400 Million Laying Around

By: Mike Sweeney

Mike Sweeney — Tue, 29 Jul 2008 20:56:45 +0000

I’ve never understood the money paid on stadium naming rights compared to the opportunity cost. Has it ever been financially justified? Or ROI calculated on it? Albeit, that would be hard, if not impossible, to quantify. Maybe it’s just a CEO ego thing.

I’m also surprised such major spending decisions aren’t put to stockholder vote.

By: Jeffry Pilcher

Jeffry Pilcher — Fri, 25 Jul 2008 14:16:29 +0000

Sorry Tom. It’s not a personal thing, I promise.

I think most people would agree that the NY Yankees are the most valuable property in Major League Baseball, so if someone pays $400 million to name anything other than the Yankees stadium then you know we haven’t even defined the high-end of the market for stadium naming rights.

At least if Citi had paid $400 million for the Yankees stadium, the world would know that a stadium sponsorship couldn’t get any more expensive.

I would have made the same point if any team other than the Yankees got a $400 million deal. It just probably stings a little more for Mets fans because it hits so close to home.

By: Tom

Tom — Fri, 25 Jul 2008 13:31:23 +0000

Mets fans everywhere are upset you consider them second-class to the Yankees.

By: Ben Rogers

Ben Rogers — Wed, 23 Jul 2008 14:18:32 +0000

A little devil’s advocate (and doesn’t the devil always advocate job cuts?) …

* In the SportsCenter age, you’ll get a couple of mentions per night on the most rabidly watched show for professional 18- to 49-year-old males. Owning the things that get talked about can make more sense than advertising on the channels where people talk.
* Citi is more than its national retail bank. In the investment banking capital of the world they got it before it became JP Morgan Park or Morgan Stanley Stadium
* People who want a little sports cachet are always willing to buy other crazy things: http://news.bbc.co.uk/1/hi/business/4293684.stm

By: Jeff Hardin

Jeff Hardin — Tue, 22 Jul 2008 20:38:04 +0000

Jeffry –

As a credit union guy and rabid Atlanta Braves fan, all I can say is that Citi and the Mets deserve each other …

By: Jeffry Pilcher

Jeffry Pilcher — Tue, 22 Jul 2008 18:58:12 +0000

Hi Trey. Thanks for stopping by and commenting.

What bothers me so much about this campaign is the concentration of HUGE dollars on one market. The Mets have how many nationally televised games every year? They make national headlines how often?

If Citi’s headquarters were located on the west coast, do you think they would have still picked Mets stadium? Is the CEO a Mets fan?

Ugh. I shudder at the rationale that must have stunk up meetings over this sponsorship.

By: Trey Reeme

Trey Reeme — Tue, 22 Jul 2008 18:32:09 +0000

At least they didn’t dump it on a bowl game. Wait a minute, they have the Rose Bowl don’t they. Hmmm.