MetLife inks Jersey naming rights deal for … some number of millions

The MetLife naming-rights deal for the New York Jets and Giants stadium is now official, with a 25-year agreement worth a reported $17 to 20 million a year. It’s unclear whether this means the payments vary, or news reports are just guessing about the amount — or, for that matter, whether the dollar figures are based on anything other than previously reported guesses.

This is actually an upgrade for MetLife, which previously was paying $7 million a year for advertising rights to a corner of the stadium. Instead, it will now get not only the name of the stadium (which will host the 2014 Super Bowl), but “120,000 square feet of branded space at the stadium’s main entrance,” according to the Newark Star-Ledger.

The uncertainty over the price and the inclusion of ad space at the entrance makes it tough to compare the dollar figures here to other naming-rights deals, but it’s fair to say that this is a sign that the naming-rights market is returning to life, after most corporations sat it out the last few years during the recession. (With some notable exceptions.) As MetLife chief marketing officer Beth Hirschhorn explained her company’s big buy: “MetLife has near ubiquitous brand awareness. This helps raise our top of mindedness.” Not to mention their neologismshare.

5 comments on “MetLife inks Jersey naming rights deal for … some number of millions

  1. I wager the naming rights amount fluctuates based on the performance of the teams. If they play a few home playoff games, Metlife pays more than the $17M base.

    At least that’s how I read into that reported range.

  2. I think 500 to 600 million makes more sense to me. Otherwise Farmers Insurance really screwed the pooch with their deal because it seems MetLife got a great deal. I mean Barclays paid 400 million on 20 years for the Brooklyn Arena while 400 on 25 years between 2 teams means they got a steal for MetLife.

  3. The LA deal is for 30 years, and doesn’t kick in until the stadium is built. I can almost guarantee the back 15 years of this deal, plus the first 15 of the next, would exceed the LA deal.

  4. Barclays did *not* pay $400m for 20 years for the Nets arena: