Automobile Citibank Financing | Info

Naming stadiums for companies began in 1953 when the St. Louis Cardinals’ new owners, the Busch family, wanted to rename Sportsman’s Park for their product, Budweiser. The Commissioner, Ford Frick, pressured the family into naming the park Busch Stadium rather than naming it for a beer. The Busch family quickly began brewing Busch brand beer.

Citibank's $400 Million Advertisement

The practice of selling naming rights for cash didn’t come into being until the 1990s. Now it is so common that it is largely ignored by sports fans. Whether it benefits anyone is hard to say. Recently, Citibank paid $400 million dollars for the right to name the New York Mets’ new stadium. Since then, the bank has been the recipient of billions of dollars in government aid. Did Citibank get $400 million dollars worth of advertising?

It would take many billions of investment dollars to create $400 million in profit. Would a stadium name ever generate that? Obviously many companies thought so. In a September 15, 2008 article, ABC affiliate WCCO claimed that name recognition was important even if a stadium name doesn’t directly impact sales. Further, television and radio ads were becoming less effective, so advertisers were looking for different ways to get their message out.

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