The Carrier Dome is no More

[sutomcat]

Syracuse Terminates Carrier Dome Deal, JMA Wireless to Take Over

Syracuse University’s iconic Carrier Dome is no more. The school has reached a settlement with Carrier Global Corp. to end the company’s perpetual naming rights deal for the football and basketball venue, according to multiple people familiar with the situation. Local technology company JMA...

sports.yahoo.com

For those interested in this sort of thing, the APEX valuation of 3.25 million per year for the naming rights is vastly more than Rutgers got for the naming rights to their stadium.

This is what Rutgers got for their Shih agreement:

“While Rutgers didn’t officially announce the financial terms, a person familiar with the contract told NJ Advance Media it’s a 7-year deal starting at $1.25 million and increasing by $100,000 annually to $1.85 million in 2025-26.”

It should be noted that the dome is used far more often than Shih is. I think that stadium is only used for 6 or 7 Rutgers home football games, maybe a HS game or two and of course one or two quidditch matches (Rutgers is one of the top quidditch schools in northern NJ; it is easily their best sport).

The dome is also home of the Syracuse men’s and women’s basketball and lacrosse teams. And usually hosts one or two major concerts every year. There are a ton more national telecasts from that facility than Shih, or any other college athletic facility in the country.

 

[tptcuse]

For those interested in this sort of thing, the APEX valuation of 3.25 million per year for the naming rights is vastly more than Rutgers got for the naming rights to their stadium.

This is what Rutgers got for their Shih agreement:

“While Rutgers didn’t officially announce the financial terms, a person familiar with the contract told NJ Advance Media it’s a 7-year deal starting at $1.25 million and increasing by $100,000 annually to $1.85 million in 2025-26.”

It should be noted that the dome is used far more often than Shih is. I think that stadium is only used for 6 or 7 Rutgers home football games, maybe a HS game or two and of course one or two quidditch matches (Rutgers is one of the top quidditch schools in northern NJ; it is easily their best sport).

The dome is also home of the Syracuse men’s and women’s basketball and lacrosse teams. And usually hosts one or two major concerts every year. There are a ton more national telecasts from that facility than Shih, or any other college athletic facility in the country.

And the New York State Field Band Championships, where one hears a lot of tubas.

 

[tee1222]

Can't we just get our good friends, the beer companies to sponsor? Then it can officially be named the Foam Dome.

I'd be willing to settle with The House that Dome Foam built. Not budging for anything less.

 

[Red Holzman]

So-
Guess this could be considered changing carriers?

 

[stuckinbig11]

So what do I do with the sign on my office wall "Carrier Dome--777 miles" ?

 

[721Comstock]

Yes nice to have a naming deal with a company committed to the area. Very good news all around

Suck it, Wegmans!!!

Snooze ya lose!!!

 

[kcsu]

Valued at $29m last year.

Tax basis is much less than selling value. At least for now. However the recent sales are problematic based on the state laws.

 

[rrlbees]

Tax basis is much less than selling value. At least for now. However the recent sales are problematic based on the state laws.

I didn’t say tax basis. That was the full market value.

 

[sutomcat]

Suck it, Wegmans!!!

Snooze ya lose!!!

I still think Wegman’s blew a great marketing opportunity. So many of the opponents SU plays are in the ACC and if you look at a map of all the areas Wegman’s is expanding to, it aligns with the footprint of the schools in the ACC.

I think they say they don’t sponsor sports. But they do. They sponsored an LPGA event in Rochester for decades. Their loss.

When the details come out on the JMA agreement, it will not be a lifetime agreement. I bet it is for 5 or 10 years. Maybe Wegman’s will jump on it then. They should be in Florida by that point.

But I love having a local company step up and get this done. Again, hope they use the dome as a place to roll out the newest technology and have the telecasts from the dome talk about the upgrades in some detail.

Hope JMA partners with the SU engineering department to develop new generations of wireless engineers (there aren’t many of them) to benefit JMA, SU students and other local companies that use wireless technology (CNY has a number of world class wireless technology leaders; JMA is just one of them).

 

[DoctorBombay]

JMA Wireless- “44” Arena. Huh? Amirite??

 

[SUbear]

I didn’t say tax basis. That was the full market value.

Full market values are only someone's opinion, you really do not know until it is actually put on the market. Always depends on what a buyer is willing to pay for it. Construction value or replacement value can be calculated, market value is always just a guesstimate.

 

[hoopsupstate]

I didn’t say tax basis. That was the full market value.

I wonder what they’re using for comps?

 

[007]

I believe the JM in JMA built a $37 million dollar home on Skaneateles Lake.

 

[rrlbees]

Full market values are only someone's opinion, you really do not know until it is actually put on the market. Always depends on what a buyer is willing to pay for it. Construction value or replacement value can be calculated, market value is always just a guesstimate.

Yes it is someone’s opinion. But it’s the best info available. Where did kcsu get $47m from?

 

[OptimusOtto]

As long as the checks clear don’t care who the sponsor is. Curious to know the terms/details of how we got out of the Carrier contract. Writing has been on the walls for years that a change was coming. Let’s use this to upgrade the facilities to be on par with our football peers.

 

[dan7800]

Wegmans is evil. Glad they didn’t get in on this.

 

[AZOrange]

This like Cricket?

 

[Grbac]

We need to send recruits to JMA CEO’s house for their visits. He puts Weitsmans 8 million dollar home to shame. We should have zero problems getting lucrative NIL deals.

Syracuse area’s ritziest mansion jumps in value by nearly $10 million

There's nothing like this Skaneateles mansion in all of Upstate NY, assessor says

www.syracuse.com

 

[DoubleDee]

Wegmans is evil. Glad they didn’t get in on this.

Would love to hear this one.

 

[Jasoncuse]

Can't we just get our good friends, the beer companies to sponsor? Then it can officially be named the Foam Dome.

I'd be willing to settle with The House that Dome Foam built. Not budging for anything less.

The House of Foam
The JMA Wireless Booze Palace

 

[Jasoncuse]

I still think Wegman’s blew a great marketing opportunity. So many of the opponents SU plays are in the ACC and if you look at a map of all the areas Wegman’s is expanding to, it aligns with the footprint of the schools in the ACC.

I think they say they don’t sponsor sports. But they do. They sponsored an LPGA event in Rochester for decades. Their loss.

When the details come out on the JMA agreement, it will not be a lifetime agreement. I bet it is for 5 or 10 years. Maybe Wegman’s will jump on it then. They should be in Florida by that point.

But I love having a local company step up and get this done. Again, hope they use the dome as a place to roll out the newest technology and have the telecasts from the dome talk about the upgrades in some detail.

Hope JMA partners with the SU engineering department to develop new generations of wireless engineers (there aren’t many of them) to benefit JMA, SU students and other local companies that use wireless technology (CNY has a number of world class wireless technology leaders; JMA is just one of them).

Let’s get co-sponsors

Wegman’s Field for football, lacrosse

The JMA Center for basketball and monster truck rallies

 

[Cusefan69]

Would love to hear this one.

Wegmans does some good things but rumor is they did a total screw job on Dibellas. Not sure if that is what Dan was referring to but have heard that before. I don't know the details, just passing on what someone shared with me. Maybe someone else knows more about that.

 

[SUFaninNJ]

Yes, that's JMA owner, John Mezzalingua (Associates). It's the most expensive home in the area. He's filthy rich and frequently at Syracuse games. Home and away.

SU in Hershey didn’t you go to school with Mezzalinguas?

 

[rrlbees]

Wegmans does some good things but rumor is they did a total screw job on Dibellas. Not sure if that is what Dan was referring to but have heard that before. I don't know the details, just passing on what someone shared with me. Maybe someone else knows more about that.

Only relationship I’ve ever heard between wegmans and DiBellas is that DiBellas sold them their recipe to their sub rolls.

 

[SUFaninNJ]

So JMA doesn’t stand for Judah Mintz Arena?