Litigation associate Ronnie Graham and Bankruptcy and Reorganization associate Jackson Story co-authored an article for Jax Daily Record on the opportunity of stadium naming rights. In the article, the authors explain that naming rights sponsorships for sports venues are among the most valuable and effective marketing tools employed by global brands and entities today. Corporate entities pine for the opportunity to gain long-term exposure to the public and to associate their brand names with those of professional, or even amateur, sports teams, which millions of prospective customers cheer every season. While finding a new naming sponsor or extending the existing rights of one is complex and involves many financial and legal implications, the authors provide a practical approach.
"First, form a joint committee between the city, the Jaguars and concerned citizens to define, collectively, what the city needs from its next naming rights sponsor," said Graham and Story, advising the entities that own stadiums "Second, hire a consulting firm to advertise the naming opportunity and to screen potential sponsors."