The Globe and Mail is reporting on the subject of naming rights in a series of 10 articles and managing partner, Bernie Colterman, has provided his perspective.
Perpetuity agreements are more common in commemorative namings where a sponsor or donor is recognized for a significant contribution.
Naming sponsorships have changed from being a branding component to providing all kinds of leveraging opportunities for companies to sell their goods and services, says Bernie Colterman, managing partner of the Centre of Excellence for Public Sector Marketing in Ottawa.
I’m seeing lots of municipalities that are going through an awkward moment because they’re realizing that names were put on their facilities in perpetuity. In many cases there isn’t even any paperwork. If they want to be able to generate additional revenue from these facilities, they’re kind of stuck,” Mr. Colterman explains. “They’re trying to be sensitive, but it’s really a balancing act; municipalities don’t want to be seen as selling out.
For more from Bernie Colterman, please visit his blog www.berniecolterman.ca