Naming rights facts for kids
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Have you ever noticed how many sports stadiums, concert halls, or even events have a company's name in their title? That's because of something called naming rights. It's when a company, a person, or another group pays money to put their name on a building, a place, a program, or an event. This is a type of advertising or a way to honor someone.
Most often, you'll see naming rights used for sports venues like stadiums and arenas. These deals usually last for a set amount of time, often from three to 20 years. Bigger, more famous places, like professional sports stadiums, often have longer naming deals.
Why do companies do this? It's a smart way for them to advertise their products and services. It helps them connect with customers and grow their business.
Sometimes, a company might become a presenting sponsor. This means their name is added to an existing name, like "Smart Araneta Coliseum". Other times, a company becomes a title sponsor, completely replacing the original name with their own, which is common for many sports stadiums.
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What Are Naming Rights?
Naming rights are like renting out the name of a building or event. A company pays money to have their brand linked to that place or activity. This helps them get their name out there and makes more people aware of what they do. It's a big business, especially in sports and entertainment.
Big Deals and Famous Places
The biggest naming rights deal ever was for the Crypto.com Arena in Los Angeles. On November 17, 2021, a company called Crypto.com paid Anschutz Entertainment Group $700 million for 20 years! This changed the name of the famous Staples Center. The Staples Center had been known by that name since it opened in 1999. It's home to the NHL's Los Angeles Kings and the NBA's Los Angeles Lakers. The new name, Crypto.com Arena, officially started on December 25, 2021.
Before that, the record belonged to Toronto's Scotiabank Arena (which used to be called the Air Canada Centre). That deal was worth about $517 million (US dollars) over 20 years, starting in 2018.
The MetLife Stadium in New Jersey, where the New York Giants and New York Jets play, gets $17 million each year from its deal with the insurance company MetLife.
Giving Back: Donated Naming Rights
Sometimes, a company buys naming rights but then gives them away! For example, Swedbank bought the naming rights for a big stadium in Stockholm, Sweden. But in 2012, they gave the rights to the Friends Foundation. This foundation, which Swedbank supports, works to stop school bullying. So, the stadium became Friends Arena.
Another example is in Kentucky. In 2018, the Kentucky Farm Bureau bought the naming rights for the University of Kentucky's new baseball park. They then donated those rights to the Kentucky Department of Agriculture. The park was named Kentucky Proud Park, promoting local farm products.
A Look Back: Naming Rights in the United States
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In the past, stadiums were often named after the families who owned the companies that built them. But now, it's more common for companies to buy the naming rights to promote their brands.
One of the earliest examples of naming rights in the U.S. might be Fenway Park in Boston, which opened in 1912. The owner also owned "Fenway Realty," so the name helped promote his business. However, many people think the trend truly began in 1926. That's when William Wrigley Jr., who owned the chewing gum company and the Chicago Cubs, named his team's stadium "Wrigley Field".
In 1953, the owner of Anheuser-Busch and the St. Louis Cardinals, August Busch Jr., wanted to rename the Cardinals' stadium "Budweiser Stadium." But the Baseball Commissioner said no. So, Anheuser-Busch suggested "Busch Stadium" after a company founder, and that name was approved.
Later, in 1971, Foxboro Stadium, home of the New England Patriots, was named Schaefer Stadium after a beer company. This was an early example of a team selling naming rights to a company that didn't own the team.
How People Feel About Naming Changes
People have different feelings about naming rights. When a brand new stadium gets a company name, it's usually accepted. For example, Highmark Stadium in New York and Coors Field in Denver are well-known.
However, when an old, famous stadium changes its name, people can be less happy. They might keep calling it by its old name. For instance, Candlestick Park in San Francisco was renamed 3Com Park. But many people and even news outlets kept calling it Candlestick Park. After that deal ended, it became Monster Park. San Francisco voters even tried to make sure the name would go back to Candlestick Park when the Monster contract ended. The stadium was eventually closed and torn down in 2014.
Naming Rights Around the World
Naming rights deals for sports stadiums are popular in many countries, including Australia, Japan, Canada, and Germany. In Germany, eight out of the ten largest football stadiums have sold their naming rights to companies.
The practice is also growing in the United Kingdom. For example, the stadium for Bolton Wanderers is now the Toughsheet Community Stadium. It used to be the Reebok Stadium and then the Macron Stadium. Arsenal Football Club's stadium, which opened in 2006, is the Emirates Stadium. In cricket, the famous The Oval stadium is now known as "The Kia Oval."
Other Cool Examples of Naming Rights
While stadiums get the highest prices, many other things can have naming rights sold. Since the early 2000s, new and unusual categories have appeared. For example, someone once paid $650,000 to name a species of monkey!
Public Transportation Names
Even public transportation stations can have naming rights. In cities like Las Vegas and Philadelphia, you can find stations like NRG station, Jefferson Station, and Penn Medicine Station.
Outside the U.S., the Madrid Metro had a station and line named after the mobile phone company Vodafone from 2013 to 2016. Many stations on the Dubai Metro also have sponsored names. In the Philippines, Monumento Station was renamed Yamaha Monumento Station in 2018.
Sports Events and Competitions
Naming rights are very common for sports competitions and events, not just stadiums. Sometimes, even sports teams or leagues adopt a sponsor's name.
In association football (soccer), leagues and cup competitions often use sponsor names. For example, England's Premier League was called the Barclays Premier League until 2016. The FA Cup is officially the Emirates FA Cup. Since 2020, the French football league is known as Ligue 1 McDonald's.
In college football, most bowl games add a sponsor's name to their traditional title, like the "Rose Bowl Game presented by Prudential" or the "Allstate Sugar Bowl". Some newer games have only ever had sponsor names, like the Pop-Tarts Bowl.
Team names and entire leagues have also been sold to sponsors, though this is less common in the U.S. An example is the New York Red Bulls soccer team.
In auto racing, especially NASCAR and IndyCar, races often have sponsor names. The Daytona 500 even had a presenting sponsor for a while.
TV and Radio Show Names
In the early days of television and radio, shows often sold their naming rights to sponsors. These sponsors would pay for the show to be made. Examples include The Fleischmann's Yeast Hour and Texaco Star Theatre. This became less common by the late 1950s, but some shows, like Mutual of Omaha's Wild Kingdom, continued the tradition. One of the longest-running examples is the Hallmark Hall of Fame, which has been on air since 1951.
When Names Cause Confusion
Sometimes, changing a name can cause problems or make people unhappy. This is especially true in the UK and the United States. Some people feel it's like "selling out" and might refuse to use the new name, sticking to the old one. This can lead to confusion, where a place is known by both its old and new names for a long time. A famous example is the Willis Tower in Chicago, which many people still call the "Sears Tower," even though its name changed in 2003.
Big events like the Olympics and Paralympic Games, and FIFA football tournaments, don't allow corporate names on their venues. They see it as unfair advertising. So, during these events, sponsored stadiums are given a general name. For example, Rogers Arena was called "Canada Hockey Place" during the 2010 Winter Olympics. All sponsor signs are covered up or removed.
In Regina, Canada, the "Evraz Place" event complex was renamed the Regina Exhibition Association Limited (REAL) District. The owners said that sometimes they would get mail or deliveries meant for the Evraz steel company because of the confusing name.
Good Deeds: Naming Rights for Nonprofits
Nonprofit organizations can also use naming rights to thank people who donate a lot of money. This isn't a business deal; it's a way to honor a generous donor. For instance, the Smithsonian Institution named its satellite museum in Virginia the Steven F. Udvar-Hazy Center. This was to honor a donor who gave over $60 million to the National Air and Space Museum.
Another example is the Walgreen Coast in Antarctica. It was named because the Walgreens pharmacy chain helped pay for an expedition there.
See also
In Spanish: Derechos de denominación para niños
- Sponsor (commercial)
