76ers aren't acknowledging their arena sponsor and we should take notes

[xc84]

If the structure of the dome is "significantly changed", Syracuse has the right to open up bids for sponsorship again. SUA took a bogus deal back in the day, and basically gave Carrier naming rights forever for about $3 million.

Hindsight is 20/20. Everyone thought it was a great deal back when it was done.

 

[Moontan]

SU accepted a "naming gift" to help it construct the Dome. It wasn't a "bogus deal". It was out-of-the-box thinking at the time.

It's apples-to-oranges wrt current "naming rights" agreements. If I had a time machine I'd go back and convince Jake & Mel to go with a naming rights deal (e.g. 25 years for the original payment).

 

[HeaterCuse22]

If the structure of the dome is "significantly changed", Syracuse has the right to open up bids for sponsorship again. SUA took a bogus deal back in the day, and basically gave Carrier naming rights forever for about $3 million.

But, But its part of our History.

 

[reedny]

This is very likely a different situation. For pro teams/arenas these are typically for a fixed duration (10-years, 20-years, etc.). In the SU case this is was a building naming gift, similar to Manley Field House or the Ensley Athletic Center. For building naming gifts these names rarely, if ever, change. A complete refurbishment may be grounds to seek a new naming gift. Perhaps Carrier would re-up.

BTW, this subject has been discussed here many, many times.

And it will be discussed again (in earnest) when they do the renovation (and re-naming, if the contract permits).

 

[MadisonCuse]

Sell the Naming rights and make Carrier sue to block it. Done and Done.

 

[Scooch]

Of all the things to worry about...

 

[orangeinjersey]

Sell the Naming rights and make Carrier sue to block it. Done and Done.

pretty much this.

 

[rocklloyd]

SU to UTC: Hey UTC, we are gutting and refurbishing the Dome, we want to open up talks about new naming rights. <Phone clicks>

2nd Call SU to UTC: Hey UTC don't hang up yet...so as I said, we are gutting and refurbishing the Dome, we want to open up talks about new naming rights. We have contacted Trane Air Conditioning and they are super interested in being the official A/C of the new Carrier Dome...isn't that cool? The "Elmira Express Trane" comes out after every touchdown...Get it, Trane for Train, cute, huh? Oh yeah, BTW, we fired The Cool Kid so we think that Trane will run more often than last year. So are you guys ok with that?

Think about what the commercial part of utc does. Elevators, escalators, air conditioning, fire and life safety, access control and building automation. The discussions are happening.

 

[MadNY3]

If the structure of the dome is "significantly changed", Syracuse has the right to open up bids for sponsorship again. SUA took a bogus deal back in the day, and basically gave Carrier naming rights forever for about $3 million.

Carrier/UTC has given SU the opportunity to shop the opportunity based on certain provisions. Easily attainable, no, but not completely impossible.

A bogus deal? At the time it was historic and for private institution, smart. It was a major innovation at the time and while it unfortunately came with no expiration date, this was a positive accomplishment.

 

[CTMick]

Carrier/UTC has given SU the opportunity to shop the opportunity based on certain provisions. Easily attainable, no, but not completely impossible.

A bogus deal? At the time it was historic and for private institution, smart. It was a major innovation at the time and while it unfortunately came with no expiration date, this was a positive accomplishment.

Naming rights for major stadiums had been around for 50 years plus before the Dome. Carrier gave basically 10% of the cost to have their name/ logo advertised forever. Any negotiated contract with "Forever" or the equivalent verbage, is bogus. SUA was in a pinch to get the construction moving, and they had to bite the bullet. Carrier wrote the deal off.

 

[Moontan]

Naming rights for major stadiums had been around for 50 years plus before the Dome.

OK, I'll play... why don't you provide a list of college stadia built between 1930 and 1980 that had corporate names associated with them?

 

[CTMick]

OK, I'll play... why don't you provide a list of college stadia built between 1930 and 1980 that had corporate names associated with them?

I said "Major stadium." Is the Dome the first on a campus, I have no idea. The concept was there already, for private owners/corporations to lease out naming rights for up front costs of new construction, upkeep, renovations etc...

 

[orange79]

I said "Major stadium." Is the Dome the first on a campus, I have no idea. The concept was there already, for private owners/corporations to lease out naming rights for up front costs of new construction, upkeep, renovations etc...

Bingo!

 

[xc84]

I said "Major stadium." Is the Dome the first on a campus, I have no idea. The concept was there already, for private owners/corporations to lease out naming rights for up front costs of new construction, upkeep, renovations etc...

I will help with your response to the question.

"I can't name a single one."

 

[xc84]

Naming rights for major stadiums had been around for 50 years plus before the Dome. Carrier gave basically 10% of the cost to have their name/ logo advertised forever. Any negotiated contract with "Forever" or the equivalent verbage, is bogus. SUA was in a pinch to get the construction moving, and they had to bite the bullet. Carrier wrote the deal off.

It was a typical gifting deal but the unusual part about it was it was a corporation attaching its name to a college stadium. Pretty much unheard of at the time. And you bring up a great point that Carrier ponied up 10% of the total costs. That's huge and something you will probably never see again...especially for a naming rights deal (which of course is not what the Carrier name attached to the dome was).

 

[MSOrange]

Of all the things to worry about...

Yes as you've said before, we can make a killing these days off naming rights - right?

 

[Scooch]

Yes as you've said before, we can make a killing these days off naming rights - right?

I'm not an expert, but just doing quick research of recent deals tells me we'd be looking at an annual take that's a tiny fraction of our ACC TV money.

I mean, every bit helps, but I think it's inarguable that SU would get FAR more bang for its buck by investing more resources into athletics fundraising vs. trying to wrangle out of the Carrier deal and shopping a naming rights deal.

 

[MadisonCuse]

I'm not an expert, but just doing quick research of recent deals tells me we'd be looking at an annual take that's a tiny fraction of our ACC TV money.

I mean, every bit helps, but I think it's inarguable that SU would get FAR more bang for its buck by investing more resources into athletics fundraising vs. trying to wrangle out of the Carrier deal and shopping a naming rights deal.

I would think a deal $5 million per year not equal to tv rights but not chump change.

 

[xc84]

I would think a deal $5 million per year not equal to tv rights but not chump change.

• Average annual value: $916,892.
• Highest average annual value: $4 million for PNC Bank Arena, but keep in mind that revenue is split between NC State, the parent company of the Carolina Hurricanes and the owner of the arena.
• Average annual value for football stadiums: $823,193.
• Average annual value for basketball arenas: $988,508.
• 
  
• http://businessofcollegesports.com/...ollege-athletic-facility-naming-rights-worth/

 

[OttoMets]

Yes as you've said before, we can make a killing these days off naming rights - right?

It's been said before, but it's worth reiterating - when the Washington Nationals can't find a suitable title sponsor in eight years, I'm not optimistic that SU can monetize this. Not, at least, for a sum that makes it worth the hassle to rebrand.

 

[Moontan]

I would think a deal $5 million per year not equal to tv rights but not chump change.

$5M/year?

$1.5M/year max, in a larger market is more realistic. Anything close to $1M/year for Syracuse would be great.

 

[MadisonCuse]

$5M/year?

$1.5M/year max, in a larger market is more realistic. Anything close to $1M/year for Syracuse would be great.

Well when we win back to back National Titles we'll just see won't we.

 

[MadNY3]

$5M/year?

$1.5M/year max, in a larger market is more realistic. Anything close to $1M/year for Syracuse would be great.

Completely agree on the economics and Scooch's thoughts on investing in HOW to and ACTUALLY DOING major fundraising via athletics.

Syracuse is terrible here.