The worst sports naming rights deal of all time? It would be hard to beat the deal that Syracuse University struck with Carrier Corp. (an air conditioning company), which contributed $2.75M towards the construction of the Carrier Dome and received naming rights in perpetuity.
To add insult to (negotiating) injury, Carrier is now headquartered in Palm Beach County, Florida. And it’s not like it’s going to be easy to buy them out of the deal. Carrier’s annual revenues topped $17 billion in 2020.
What is Syracuse missing out on?
@UofWA gets $4.1 million per season from Alaska Airlines for the name Alaska Airlines Field at Husky Stadium.
University of Illinois receives $2 million annually from State Farm..
Syracuse receives the equivalent of $78,000 per season.
@UofWA gets $4.1 million per season from Alaska Airlines for the name Alaska Airlines Field at Husky Stadium.
University of Illinois receives $2 million annually from State Farm..
Syracuse receives the equivalent of $78,000 per season.
Syracuse tried to renegotiate the deal 5 years ago in order to help fund upgrades (including a new roof) for the Carrier Dome. Apparently, said negotiations did not go anywhere. syracuse.com/orangesports/2…
👎🏻👎🏻👎🏻
“The school could also go to court to make the argument that the original deal should be scrapped, because when the dome is renovated, it will be radically different from the venue (former Carrier cheif executive officer (Melvin) Holm sponsored."
“The school could also go to court to make the argument that the original deal should be scrapped, because when the dome is renovated, it will be radically different from the venue (former Carrier cheif executive officer (Melvin) Holm sponsored."
“Syracuse and Carrier agreed in 1979 that the building would be named for the company in exchange for a one-time donation of $2.75 million. Neither side has publicized the exact wording of the agreement, through it has frequently been referred to as a ‘lifetime’ agreement.”
More today with legalized online sports betting:
“The Bloomberg article cited naming rights expert, Jeff Knapple, chief executive officer of Van Wagner Sports & Entertainment, as saying the naming rights to the building would be worth at least $2 million annually.”
“The Bloomberg article cited naming rights expert, Jeff Knapple, chief executive officer of Van Wagner Sports & Entertainment, as saying the naming rights to the building would be worth at least $2 million annually.”
Syracuse scrubs all 64 ‘Carrier’ mentions from its annual football guide; it’s just the Dome now.
Before and After:
Before and After:
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