Comerica Cash-in
While the Detroit Tigers wait to find out their opponent in the World Series, Comerica Bank could be counting its pennies. Well, at least the anticipated value from having its name atop the Tigers’ home stadium, Comerica Park.
According to Front Row Marketing Services, a naming rights marketing and sponsorship research firm, the bank’s partnership could result in at least $21.4 million worth of media exposure from stadium signage, graphics and verbal mentions on television broadcasts of the postseason games.
Not bad for a company that agreed to pay $66 million for 30 years for the naming rights to the stadium, starting in 1999 when the Tigers’ on-field performance could best be described as lean.
“In one year, we could see half of that returned in media value because of the success of the Tigers,” said Wayne Mielke, Comerica vice president of corporate communications. “One of the benefits of having a 30-year agreement, is just like the economy goes in cycles, so does the baseball season. You never know which team will be on top.”
Front Row measured per game exposure against what it would cost to air 30-second commercials during the different rounds of the playoffs, with the per game value during the Division Series measuring about $1.36 million and a World Series game rising to about $6.6 million. But those calculations, Mielke said, don’t even include all the extra exposure from media coverage of the team and the city of Detroit.
The Tigers took four games to beat the New York Yankees in the best of five Division Series, but swept the Oakland A’s in four games in the American League Championship Series. The lack of the maximum number of home games for the team doesn’t bother Mielke.
“The bigger picture here is the impact this has on the city and the region,” Mielke said. He said before the naming rights partnership people were unfamiliar with the bank’s name. He said the Tigers’ run should help the bank gain exposure in its growth markets of Florida, Texas, Arizona and California. “So if the Tigers sweep their way to victory, it’d be perfect.”
CRAIG DAVIS In more than 33 years at the Sun Sentinel, Craig Davis has written about a wide variety of sports topics from baseball to yachting, fishing to triathlons, and also worked as a copy editor and page designer. Recently he reported on local sports, including running, swimming, cycling, equestrian and beach volleyball. He enjoys sports as a participant as well as a spectator, is active in the South Florida running scene plays in the curling club at Saveology Iceplex. This blog offers a glimpse at the business side of sports in the interest of enhancing enjoyment of the games and sporting options as a spectator as well as a participant.
