Sun Life Financial enjoying Dolphins' stadium naming right - Ingles

Friday, February 04 2011

A little over a year after the deal was announced, Sun Life Financial is boasting about the economic benefits of the five-year, $37.5 million outlay it has made to slap its name on what was once known as Joe Robbie Stadium. This article was written by Brian Biggane and appeared in the Palm Beach Post.

Its timing was right. Before the Dolphins ever played a game there, Sun Life Stadium hosted a Pro Bowl and a Super Bowl a week apart, which the insurance and financial services company has calculated was worth $26 million in “media value,” which consists of print, electronic and non-traditional news reporting.

The Super Bowl between New Orleans and Indianapolis still stands as the most-watched program in TV history, while the Pro Bowl drew its highest ratings in 20 years.

In the six months after the deal was announced, the company said its consumer awareness had risen by 450 percent, from 4 percent of respondents recognizing the brand to 18 percent.

Announced on Jan. 20, 2010, the deal was the first naming rights agreement since Citibank completed a deal with the New York Mets to name their new stadium Citi Field in 2009.

Opened in 1987, the stadium had previously been known by five different names: Joe Robbie Stadium, Pro Player Park, Pro Player Stadium, Dolphins Stadium and Land Shark Stadium. The latter moniker was the result of a one-year deal involving Jimmy Buffett and Anheuser-Busch, the maker of Land Shark beer.

Earlier this week, officials in Los Angeles announced a naming rights deal whereby the stadium planned for that area will be named Farmers Stadium. The 30-year deal was said to be worth $700 million. This article was written by Brian Biggane and appeared in the Palm Beach Post.