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Timex Buys Naming Rights to Giants’ Practice Center (Update1)

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By Aaron Kuriloff


June 16 (Bloomberg) -- The New York Giants’ new practice facility will be called the Timex Performance Center under a 15- year agreement between the National Football League team and the watchmaker.


The terms are “comparable” to NovaCare Inc.’s $60 million, 25-year contract with the Philadelphia Eagles, Adam Gurian, president, Timex, said without revealing figures. The deal is worth an estimated $35 million, the Wall Street Journal said, citing unidentified people with knowledge of the accord.


“We wanted to do something more then just sticking our name on the outside of the building,” Gurian said in a telephone interview.


Closely held Timex will become an official equipment provider to the Giants, and fans attending games in the new stadium scheduled to open in 2010 will see a Timex “Countdown to Kickoff” clock on video displays. Time outs will also be branded, Gurian said.


Middlebury, Connecticut-based Timex and the Giants have discussed creating football-specific products since February, Gurian said. The agreement also includes sponsorship of the team’s radio network and the “Giants GameDay” television show.


“This is more than a marketing relationship,” team owner John Mara said in a statement. “This is about achieving the highest possible performance for our organization and our team.”


The practice facility in East Rutherford, New Jersey, includes a field house with a full-sized, 100-yard indoor field.


To contact the reporter on this story: Aaron Kuriloff in New York at akuriloff@bloomberg.net.





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June 17, 2009

Giants approve corporate logo on practice jersey


The Giants plain blue and white practice jerseys will have a new look this summer: A red Timex logo on the front.


That’s part of what Timex bought when it agreed on a 15-year deal worth a reported $35 million to name the Giants’ new office building and practice facility the Timex Performance Center. They get the logo on the jersey, big signs all over the new facility, a series of “Countdown to Kickoff” clocks outside the new stadium, and during the games Giants will take “Timex Timeouts.”


It’s a whole new world.


NFL owners approved corporate logos on practice jerseys this spring, but not on their game-day jerseys (though most of us believe it’s only a matter of time before they add that, too). The Timex patch is small and tasteful enough. It’ll appear above the numbers \on the upper left side of the jersey, the same place their Super Bowl XLII patch went two years ago.


That logo, of course, is only the beginning of the corporate synergy. Remember, the Giants and Jets are still seeking a naming rights deal for the new stadium - - a deal they hope could net them $30 million per year. They’re also getting a reported $8 million per year from Verizon, MetLife and Anheuser-Busch, who have each sponsored a “corner” of the new stadium. A fourth “cornerstone sponsor” could be announced by the fall.


Here are a few other business-related items from today’s corporate event:


• Giants co-owner John Mara said they’re not close to getting a name for the new stadium. “I wouldn’t say that we’re close,” he said. “We’ve had some companies lately that we’ve had some discussions with. We hadn’t had discussions for some amount of time, so at least we’re seeing some interest out there.”


Mara also said the downturn in the economy has not caused the teams to drop their asking price, which is reportedly $25-30 million per year.


“We have not at this point in time,” he said. “We still think the building has a certain value to it and we’ll eventually get that value. Whether we get it next month or next year, we’re not sure.”


• The NFL also now allows teams to sponsor state lotteries, and the Giants are taking advantage by holding discussions with lottery officials in New York, New Jersey and Connecticut. They are allowed to strike a deal to place the Giants logo on instant lottery tickets, and to offer Giants-themed prizes to lottery winners.


• Mara said the first event in the stadium will be “some sort of (college) lacrosse event” in April, 2010. He also said that very soon they will begin adding concerts to the schedule, too.


• This could be the final year for training camp in Albany, now that the Giants have their big, sparkling, new facility.


“That’s certainly a possibility,” Mara said. “We have one more year in Albany. We’re going to have discussions this summer with people in Albany. We’ll see how that goes. We still need to talk as an organization - - we haven’t done that yet - - as to what we want to do. Do we want to go up there for the full four weeks, or just two weeks, or maybe not at all?


“We (also) have to make sure these (outdoor grass) fields are going to hold up. If you have training camp on them all summer, are they going to last through the fall and winter? I’m not sure about that just yet. We’re not close to making a decision.



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