When it comes to attracting naming rights for your facility, there are a lot of factors influence the final price. The most obvious is the size of the sports team or franchise. The larger the team and the organizing body the greater the potential audience, and by extension, potential customers. So, larger, professional teams and franchises will get the top dollar for their naming rights. Some other factors are the market size, facility, and timing.
The market size is another one that makes a lot of sense. A larger market will potentially attract more fans and more people will see the signage and the supplemental activating advertisements than a smaller market. A newer facility is worth more than an older one in terms of naming rights. The newer the facility the more amenities and focus on technology that can be used to improve activation of marketing promotions. The market timing is interesting. Depending on when you solicit bids for naming rights has an effect on what you can get. When the business or the economy is doing well they are more willing to invest in naming rights and competition may be higher which increases the final contract.
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