As facilities are increasingly more willing to sell their name for the right price, negotiating this sponsorship niche is becoming an increasingly sophisticated process. Companies need to generate returns on their marketing investments and properties need assurance that they are generating the level of fees deserved.
Naming Rights are a financial transaction whereby a corporation or other entity purchases the right to name a facility, typically for a defined period of time. The term ranges from three to 20 years. Longer terms are more common for higher profile venues.
The distinctive characteristic for this type of naming rights and sponsorships is that the buyer gets a marketing property to promote products and services, promote customer retention and/or increase market share.
Sponsorships are used to create value for products and services used by the PTN-NRS clients. These sponsorships allow the purchaser to showcase and advertise their products and services as the exclusive provider to the PTN-NRS client.