Naming rights is the term used when a company pays money to the owners of a stadium or other sports venue, to have that stadium named for the company. An example is the baseball park called Coors Field. This is done by a legal contract, usually for a limited number of years. "Naming rights" is also called Corporate sponsorship.
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The same arena was renamed EnergySolutions Arena (now Vivint Smart Home Arena) in late 2006. Temporary signage covered up the previous Delta Center logo after the new naming rights sponsor was announced.
Naming rights Facts for Kids. Kiddle Encyclopedia.