69 Reasons Why You Shouldn’t Invest in
Stadium Naming Deals
Dave Raileanu
December 16, 2008

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Company

Stadium

Date
Announced

End

Avg Return

Avg S&P

Difference

Rogers Communications

Rogers Centre

Feb 2005

Current

18.9%

-7.6%

26.5%

Qualcomm

Qualcomm Stadium

Jul 1997

Current

22.4%

-0.3%

22.7%

Anheuser-Busch

Busch Stadium

Jan 1982

Current

29.1%

7.5%

21.5%

Office Depot

Office Depot Center

Sep 2002

Nov 2005

28.9%

10.3%

18.6%

AT&T

AT&T Center, AT&T Park

May 2005

Current

9.5%

-7.7%

17.2%

Philip Morris (Miller)

Miller Park

Apr 2001

Current

13.2%

-3.1%

16.3%

Hewlett-Packard

HP Pavillion

Jul 2002

Current

15.4%

-0.5%

15.9%

Verizon Wireless

Verizon Center

Mar 2006

Current

1.9%

-12.0%

13.9%

Safeco

Safeco Field

Jul 1999

Current

8.1%

-4.6%

12.6%

Royal Bank Canada

RBC Center

Oct 2002

Current

11.7%

-0.1%

11.8%

Adolph Coors Co.

Coors Field

Jul 1995

Current

15.4%

3.7%

11.7%

HSBC

HSBC Arena

Mar 2000

Current

5.9%

-5.6%

11.5%

Oracle Communications

Oracle Arena

Jun 1996

Current

12.6%

2.2%

10.3%

Pepsico (Pepsi & Tropicana)

Pepsi Center, Tropicana Field

Jul 1999

Current

5.4%

-4.6%

10.0%

U.S. Cellular

U.S. Cellular Field

Feb 2003

Current

10.3%

0.5%

9.8%

Raymond James Financial

Raymond James Stadium

Aug 1998

Current

7.4%

-1.9%

9.4%

Staples

Staples Center

Jul 1997

Current

9.0%

-0.3%

9.3%

Great American Insurance

Great American Ballpark

Mar 2003

Current

10.1%

1.2%

8.9%

Time Warner Cable

Time Warner Cable Arena

Apr 2008

Current

-39.6%

-47.8%

8.1%

PNC

PNC Park

Nov 2007

Current

-28.4%

-36.0%

7.6%

Nationwide Insurance

Nationwide Center

Sep 2000

Current

0.4%

-5.9%

6.3%

Target

Target Center

Aug 1990

Current

11.9%

5.9%

6.0%

Gillette

Gilette Stadium

Aug 2002

Current

6.7%

1.0%

5.8%

Heinz

Heinz Field

July, 2001

Current

1.3%

-4.4%

5.7%

Chase Bank

Chase Field

Sep 2005

Current

-3.7%

-9.3%

5.6%

Toyota

Toyota Center

Jul 2003

Current

3.5%

-1.9%

5.4%

Toronto-Dominion

TD Banknorth Garden

Mar 2005

Current

-2.9%

-7.9%

5.0%

Mellon Financial

Mellon Arena

Mar 2000

Current

-0.3%

-5.1%

4.8%

Xcel Energy

Xcel Energy Center

Jun 2000

Current

-1.7%

-5.7%

4.0%

BP (Arco)

Arco Arena

Feb 1985

Current

9.1%

7.0%

2.1%

Coke (Minute Maid)

Minute Maid Park

Jun 2002

Current

-1.0%

-2.5%

1.6%

BCE (Bell Canada)

Bell Centre

Sep 2002

Current

0.6%

-0.1%

0.7%

Qwest Communications

Qwest Field

Feb 2004

Current

-5.2%

-5.1%

-0.1%

Pengrowth Energy Trust

Pengrowth Saddledome

Jul 2000

Current

-7.7%

-5.9%

-1.8%

Royal Philips Electronics

Philips Arena

Apr 2002

Current

-6.0%

-3.5%

-2.5%

FedEx

FedEx Field, FedEx Forum

Oct 2005

Current

-12.5%

-9.0%

-3.5%

Key

Key Arena

Oct 1995

Current

-0.4%

3.3%

-3.7%

Honda

Honda Center

Oct 2006

Current

-21.7%

-17.5%

-4.2%

Edison International

Edison International Field

Sep 1997

Dec 2003

-2.3%

2.2%

-4.5%

Scotiabank

Scotiabank Place

Feb 2006

Current

-16.8%

-11.7%

-5.1%

Comerica

Comerica Park

Jan 1998

Current

-5.9%

-0.6%

-5.3%

M&T Bank

M&T Bank Park

May 2003

Current

-6.6%

-0.8%

-5.8%

American Airlines

American Airlines Center, American Airlines Arena

Mar 1999

Current

-9.6%

-3.6%

-6.0%

Continental

Continental Airlines Arena

Jan 1996

May 2007

1.8%

8.2%

-6.4%

McAfee

McAfee Coliseum

Apr 2004

Sep 2008

1.1%

7.7%

-6.7%

WorldCom (MCI)

MCI Center

Jul 1997

Mar 2006

-4.1%

4.0%

-8.1%

Lincoln Financial

Lincoln Financial Field

Mar 2002

Current

-12.8%

-3.8%

-9.0%

Amvescap PLC (Invesco)

INVESCO Field

Jan 2001

Current

-14.3%

-5.1%

-9.2%

Ford

Ford Field, Ford Center

Oct 1996

Current

-8.2%

2.0%

-10.1%

United

United Center

Aug 1994

Current

-5.7%

4.7%

-10.5%

Citizens Bank

Citizens Bank Park

Jun 2003

Current

-13.5%

-1.9%

-11.5%

Compaq

Compaq Center

Oct 2000

Oct 2003

-22.1%

-9.9%

-12.2%

Ericsson

Ericsson Stadium

Jun 1996

Jan 2004

-5.6%

6.7%

-12.3%

Reliant Resources

Reliant Stadium

Mar 2000

Current

-18.9%

-5.1%

-13.8%

Bank of America

Bank of America Stadium

Jan 2004

Current

-19.1%

-4.4%

-14.7%

General Motors

General Motors Place

Mar 1995

Current

-11.2%

4.2%

-15.4%

First Union (Wachovia)

First Union Center

Apr 1998

Current

-19.3%

-2.2%

-17.1%

Conseco

Conseco Fieldhouse

May 1998

Current

-21.7%

-2.2%

-19.5%

Prudential

Prudential Center

Jan 2007

Current

-41.4%

-21.4%

-20.0%

Philips-Van Heusen

Izod Center

Oct 2007

Current

-58.7%

-37.8%

-20.9%

Savvis Communications

Savvis Center

Aug 2000

Sep 2006

-26.8%

-1.8%

-25.0%

Corel

Corel Centre

Feb 1996

Jan 2006

-21.4%

7.4%

-28.8%

EnergySolutions

EnergySolutions Arena

Nov 2006

Current

-49.4%

-18.6%

-30.8%

3Com

3Com Park

Sep 1995

Jan 2002

-19.5%

12.0%

-31.4%

Thomson S.A. (RCA)

RCA Dome

Oct 2004

Dec 2008

-49.5%

-7.5%

-42.0%

Citigroup

Citi Field

Nov 2006

Current

-61.6%

-18.6%

-43.0%

BankAtlantic

BankAtlantic Center

Nov 2005

Current

-59.0%

-9.8%

-49.2%

Louisiana-Pacific

LP Field

Jun 2006

Current

-66.4%

-13.8%

-52.6%

Adelphia

Adelphia Coliseum

Jun 1999

Aug 2002

-100.0%

-12.7%

-87.3%

Total

69

 

 

-9.1%

-4.5%

-4.7%


Data was not available for the following stadium sponsoring companies: Air Canada, America West, Bank One, Cinergy, CMGI, Delta Air Lines, Edward Jones, Fleet Boston (Fleet Bank), Gaylord Entertainment, Network Associates, SBC (SBC & PacBell), US Airways.
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