Naming rights facts for kids

Naming rights is when a company pays money to have a building, like a stadium or a concert hall, named after their company. It's like a special kind of advertising! For example, the baseball park in Denver is called Coors Field because the Coors brewing company paid for that name.

Companies and the owners of these places sign a legal agreement, usually for a certain number of years. This deal is also known as corporate sponsorship. It's a way for companies to get their name out there and for venues to get money to help pay for their operations or improvements.

What Are Naming Rights?

Naming rights mean a business pays to put its name on a public place. This could be a sports arena, a concert hall, a train station, or even a museum. The company's name then becomes part of the official name of that place. This is a big deal because millions of people might see or hear the name.

Why Do Companies Pay for Names?

Companies pay for naming rights mainly for advertising. When a stadium is named after a company, everyone who watches a game, attends a concert, or sees news about the venue will see or hear that company's name. It helps the company become more famous and recognizable.

• Brand Awareness: It makes more people know about the company and its products.
• Positive Image: It can make the company seem like a good supporter of sports or entertainment.
• Exclusivity: Sometimes, the deal includes special advertising inside the venue or other benefits.

How Long Do These Deals Last?

Naming rights agreements usually last for many years. Some deals might be for 10 years, while others could be for 20 years or even longer. For example, Citizens Bank Park in Philadelphia had its naming rights bought by Citizens Financial Group in 2003 for twenty years. This long-term commitment shows how valuable these names are to companies.

Famous Examples of Naming Rights

You can find examples of naming rights all over the world. Many sports stadiums and arenas have company names.

• Sports Arenas: The main indoor arena in Salt Lake City was once called the Delta Center, named after Delta Air Lines. Later, it became EnergySolutions Arena, and now it's known as Vivint Arena. This shows how naming rights can change over time when new deals are made.
• Baseball Parks: Besides Coors Field, another example is Citizens Bank Park, which is named after Citizens Financial Group.
• International Venues: In Munich, Germany, there's the Allianz Arena, named after the financial services company Allianz SE. This stadium is famous for its unique glowing exterior.
• Other Public Places: It's not just sports! Even train stations can have naming rights. For instance, Penn Medicine Station in Philadelphia got its name because the University of Pennsylvania Health System acquired the naming rights.

These examples show that naming rights are a common way for businesses to connect with the public and for venues to get financial support.

Images for kids

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  Delta Air Lines held the naming rights to the main indoor arena in Salt Lake City from 1991 to 2006.

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  The same arena was renamed EnergySolutions Arena (now Vivint Arena) in late 2006. Temporary signage covered up the previous Delta Center logo after the new naming rights sponsor was announced.

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  Citizens Bank Park baseball stadium in Philadelphia; naming rights were purchased by Citizens Financial Group in 2003 for twenty years at $95 million.

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  Allianz Arena, Munich, Germany, whose naming rights were purchased by the financial services company Allianz SE

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  Penn Medicine Station in Philadelphia, with naming rights acquired by the University of Pennsylvania Health System.

See also

In Spanish: Derechos de denominación para niños