Bank of America is close to wrapping up a deal to become the largest sponsorship partner at the new Yankee Stadium.
(see high resolution computer renderings of new Yankee Stadium)
While the Yankees have said that they will not sell naming rights for the new $1.3 billion facility slated to open next season, in-stadium naming and other tie-ins are seen a lucrative revenue stream for the Yankees.
As reported by Terry Lefton of the Sports Business Journal, BofA is near to closing the deal, beating out JPMorgan Chase. BofA has an extensive portfolio with MLB, including “an MLB league deal; 10 MLB team deals, including the Yankees and Red Sox,” on top of deals with the NFL and several of its teams including “New England, Washington, Dallas and Carolina [and] naming rights to the Panthers stadium in Charlotte.”
As reported by the SBJ, the deal at Yankee Stadium is reportedly not as high as the CitiGroup deal that the Mets have for the naming rights to their new stadium ($20 million annually for 20 years), but this deal is in the “mid-teens per annum.”
The deal includes a comprehensive financial relationship between the franchise and Bank of America. It also offers the company a vast array of inventory within the new ballpark, which will open next year, including prime signage in and around the park, large signs on the highways around the stadium, prominent exposure on Gate 4, the stadium’s main entrance, several fixed signs on top of the stadium affording an aerial view, a large sign atop the right-field scoreboard, even bigger signage on the back of the scoreboard that will face a new subway stop, signs on interior gates leading to the field, fixed and LED signs inside the stadium and the stadium bowl, permanent dugout branding and behind-the-plate signage and a logo on all Yankees tickets.
Also included are media on Yankees rights holder YES and flagship radio WCBS radio and access to some of the front-row Legends seats in the new stadium, which the Yankees will price at $500 to $2,500 a seat.