MSG reportedly inks sponsorship deal with JP Morgan Chase
SBJ reports Madison Square Garden has agreed to a non-naming rights sponsorship deal with JP Morgan Chase worth a record $30 million per year (or more) over 10 years.
Given the softness of the naming rights market the past couple of years - see New Meadowlands Stadium - this is a stunner.
The Garden is undergoing a phased renovation between now and 2013.
(IMPORTANT UPDATE: Subsequent reporting has indicated this is a hugely complicated deal and that the $30 million figure quoted by SBJ might be a bit misleading. More details when they are fleshed out in the coming days and weeks.)