Naming rights are the rights that a sponsor pays for the right to place its name in a dignified manner on a sports facility, building, park, government structure, library, airport, hospital, casino, or just about any commercial entity.

The New York Times reported that in 2004 the value of naming rights deals that were placed was over 3 billion dollars.

The Naming Rights Association specializes in placing naming rights. Walter McGivney, the Executive Director, said, “Our association recently conducted an in-depth survey of potential sponsors nation wide, and found that there was significant interest to assist in funding properties that were devastated by this tragedy.”

McGivney continued that many companies felt that they could assist with the rebuilding and also receive residual good will, which would be an added benefit for their assistance.

McGivney pointed out that, “Until now the only way to secure a naming rights sponsor was to expend tens of thousands of dollars on a feasibility marketing study, then to spend thousands more on advertising, contracts, and consultants to assist in packaging and presenting the property.

“In fact, the average fee to investigate the sales of naming rights is in the $25,000 to $100,000 plus range. Then, after all this time and money is spent up front, in many instances there are no qualified applicants that would pay for the rights.”

McGivney explained that, “The Naming Rights Association is going to set aside all of our up front packaging and marketing fees for any government or commercial property that wants us to help them place their naming rights. What this means is there will be no cost for any entity that needs to raise capital to help them rebuild.”

Most naming rights that have been placed are in the one million to twenty-five million dollar ranges. And some rights have been sold in the 80 million dollar range. Many naming rights’ contracts are placed on projects while they are still in their development or transitional stage, which means that if a Katrina- damaged property needs to be completely rebuilt it can still sell its naming rights.

Persons, companies, or government facilities that want to find out about the Naming Rights Association Katrina program should contact us.