Virtual Business Sports Sponsorships Sponsorship The promotion of a company in association with a property Why Sponsor Sports Teams? Companies sponsor sports teams as a form of advertising. How are sponsors promoted? Usually through signage at or around the stadium or venue. They may also be recognized in other team promotions Types of Stadium Sponsorships • • • • Naming rights Scoreboard signage Ticket booth signage Field signage *Sponsorships range in cost depending on size and exposure of the signage Local & National Sponsorships Small signage may appeal to smaller local businesses, while stadium naming rights may appeal to a large national corporation Negotiations Teams will negotiate acceptable offers for sponsorships with local and national companies Contract Terms Legal specifics of an agreement between two parties including payments and length of the contract Sponsorships Terms • Sponsor: Organizations, firms, or individuals that give teams money in exchange for advertising rights on stadium signage and naming rights • Signage: Collective use of signs, symbols, or designs in designated areas of a stadium or venue • Naming Rights: Exclusive right of a sponsor to have its name and logo on a stadium or venue • Negotiation: The act of discussing an issue between two or more parties with competing interests in order to reach an agreement.