Cobb Energy Performing Arts Centre
When the Cobb Marietta Coliseum and Exhibit Hall Authority (CMCEHA) laid plans for a new performing arts center they knew that major corporate support was needed to get the project off the ground. Sports & Properties, Inc. was called upon to assess the opportunity for naming rights, including determining the sponsorship value, identifying prospects, preparing sales materials, and participating in sales presentations. The resulting $20 million title sponsorship ($1 million per year for 20 years) by Cobb Energy was the largest corporate performing arts center naming rights deal in the country (and remains so today). The front-loaded payment schedule by Cobb Energy facilitated the financing of the venue and allowed construction to get underway.
Recently, as other naming rights sponsorships at the venue are up for renewal, the CMCEHA has called upon SPI for updated sponsorship valuation analyses, sponsor prospect identification, and negotiation strategies. SPI's latest work has resulted in a secondary naming rights sponsorship in the six figures annually for the CEPAC.
Coolray Field and Infinite Energy Arena
When the new home of the Gwinnett Braves (affiliate of the Atlanta Braves) was under construction, the Gwinnett Convention and Visitors Bureau, owner of the venue, was interested in the potential of securing a naming rights partner for the venue. The Gwinnett CVB had Sports and Properties, Inc. perform an analysis to determine the potential value of a title sponsorship, which led to a 16-year agreement with Coolray Heating and Cooling, Inc. for Coolray Field.
Because of the success of the Coolray Field initiative, the Gwinnett CVB subsequently called on SPI to assess the title sponsorship possibilities for the Arena at Gwinnett Center, an existing venue that had never had a naming rights sponsor. SPI's sponsorship work laid the groundwork for a second major title sponsorship with Infinite Energy, a multi-state natural gas company, paying $18 million over 20 years for the infinite Energy Arena and related sponsorships.
Durham Performing Arts Center
Realizing the importance of major sponsorships to the success of the project, developers of the Durham Performing Arts Center recruited Sports & Properties, Inc. to be part of the development team. SPI established title sponsorship values, developed sales materials and presentations, and sold over $8.3 million in naming rights sponsorships to the stage, atrium lobby, and exterior plaza. These sponsorships ensured the financial viability of the new venue which has gone on to regularly place among the top five theater venues in the country in ticket sales, attendance, and revenues.
The Wake Forest University Athletic Department was in the midst of a multi-phase expansion of its football stadium. The addition of VIP suites, club seats, and new media working areas required $50 million in new funding.
The Athletic Department called on SPI for a naming rights sponsorship valuation analysis, sponsor targeting and sales preparation, and naming rights sponsorship sales (in partnership with the Athletic Department's marketing agency, ISP Sports, now IMG College). The stadium was renamed BB&T Field thanks to a 10-year multi-million dollar naming rights sponsorship that matched the target sales amount recommended by SPI.