Giants, Jets seek naming rights deal in difficult climate
Speaking of naming rights (see post below about Citi Field) . . . after asking Rob Vogel - president of the sports-marketing firm The Bonham Group - Monday about the Citigroup situation, I threw in a question about something I had asked him a couple of months back:
Whither the Giants-Jets naming rights, what with many of the companies likely to be in the mix collapsing along with the economy?
"It's not the best of times to be out there selling your naming rights," he understated. "The Jets' and Giants' advantage, given the market theyre in, is the global interest they could generate. So that's a little bit of an advantage . . . But it gets tougher by the day. You just have to deal with it as you come."
Even though naming rights usually are a small fraction of the marketing budgets of corporate giants such as Citigroup, they are an extremely visible fraction - as Allianz discovered when its interest in sponsoring the Jets/Giants stadium blew up amid criticism of its past Nazi ties.
"Because it's high profile, you get a lot of exposure, both good and bad," Vogel said. Still, he insisted in the long run the stadium sponsorship could benefit Citi, saying, "If you can survive the short-term crisis, it can be very helpful to them."