See how we helped the Minnesota Twins to forge a successful naming-rights sales strategy for the team’s new stadium
The Minnesota Twins came to IEG with a number of questions around the planning for their new baseball-only stadium. Among them: What are the implications of selling naming rights? What is the best way to sell other top-tier sponsorship packages? How could the Twins capitalize on new assets such as club areas, upgraded hospitality and premium signage opportunities? What are the naming rights and other opportunities worth?
IEG provided the Twins with extensive research on other pro sports naming rights deals, as well as information on current sponsorship trends such as selling title to areas within the stadium. In addition, IEG used its objective, sponsor-endorsed valuation methodology to determine the fair market value of naming rights for the ballpark and other top-tier sponsorship packages. Beyond accounting for all of the team’s new assets, the valuations effectively measured intangibles such as fan loyalty, category exclusivity and promotional rights. Furthermore, IEG was able to provide sponsorship revenue projections under several different scenarios, e.g., with and without selling naming rights.
IEG’s analysis provided the Twins owner, president and executive management team the information and tools they needed to move forward with their strategy to pursue naming rights, as well as credible, objective documentation necessary to justify significant rights fee increases. IEG continued to work with the Twins throughout the sales process to provide specific information to prospects and to assist in crafting and negotiating the deal with the naming rights partner.