CenturyLink extended its naming rights deal for the stadium shared by the Sounders and Seahawks for another 15 years at roughly $10M/yr, reportedly doubling the previous agreement. The value reflects a stadium in a growing, upper medium sized market that houses teams that consistently make the playoffs in their leagues.
The CLink is one of three facilities that serve as permanent homes for NFL/MLS teams in their markets, along with Gillette (New England) and Mercedes Benz (Atlanta). The Atlanta stadium’s opening has been delayed multiple times and now is expected to open in August. With both of these other stadiums being in larger markets, one can expect those naming rights deals to be larger, especially the new Atlanta stadium. But the newness of the stadium is just one of many factors considered when such agreements are signed, as the linked article notes.
This season, the Chargers will join the Galaxy at StubHub Center for a three season stay until the new NFL facility in Inglewood is completed. Additionally, Vancouver and Toronto both have MLS/CFL stadium sharing agreements. So the economics behind the naming rights deals for shared football stadiums will continue to be focused on the long term nature of the setups in Seattle, Atlanta and New England (Foxboro) for the foreseeable future. And in the case of Seattle, the agreement is more valuable than expected if based on market size alone.
Your turn, Mariners.