The New York Jets and New York Giants NFL teams have secured the third of four ‘cornerstone’ sponsors for their new stadium.
Verizon has joined MetLife and Anheuser-Busch as one of the four sponsors of a corner of the 82,500 capacity stadium, currently being built. Though no terms were released for this deal, the four cornerstone sponsors are believed to be paying US$8 million per year each, with the two franchises hopeful of attracting an overall naming-rights sponsor worth between US$20 million and US$30 million. Each of the partnerships is expected to be agreed on a 20-year basis. Major sponsorship at the stadium will be limited to the five deals.
“One of the stadium’s greatest features are its four cornerstones, which are both its symbolic and physical anchors,” said Jets chief executive Woody Johnson.
The new stadium will replace Giants Stadium as the home of the two franchises, and will be owned jointly by both. It is currently being built in the car park of the Meadowlands Sports Complex that houses Giants Stadium, Meadowlands Racetrack, and the Izod Center, home of the New Jersey Nets.
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