EAST RUTHERFORD, NJ (CelebrityAccess MediaWire) — Giants Stadium LLC and Jets Development, LLC have engaged Wasserman Media Group to lead the naming rights process for the new home of the Jets and the Giants, the New Meadowlands Stadium in East Rutherford, NJ.
Wasserman Media Group's WMG Marketing has secured nearly $2 billion in revenue through the representation of the most renowned sports and entertainment properties in the world. Recently, the group secured $180 million for London-based Arsenal FC through the Emirates Stadium and shirt sponsorship deal. Previously, the division successfully delivered naming rights for prominent venues such as the Staples Center in Los Angeles, Phillips Arena in Atlanta, Toyota Center in Houston, Heinz Field in Pittsburgh and Citizens Bank Park in Philadelphia. WMG Marketing works with and develops marketing programs and corporate sponsorships for leading consumer brands.
The new 82,500-seat New Meadowlands Stadium, scheduled for completion in time for the 2010 football season, will be located just north and east of the site of the current Giants Stadium at the Meadowlands Sports Complex. The Giants and Jets ownership families have formed a joint venture to build the new stadium as 50-50 partners, working together to create the NFL's premier sports and entertainment facility. The new stadium is being 100 percent privately financed by the two joint venture partners.
"The New Meadowlands Stadium arguably represents the most unique opportunity in the nascent history of naming rights," said Casey Wasserman, chairman and CEO of WMG. "Combining the power of the NFL and its reach with two of the greatest sports teams creates an unparalleled platform for a marketer to align itself with the most prominent media, entertainment and sports destination in the world."
New York Giants Chairman Steve Tisch said, "Our overall objective is to create a strong identity for the stadium and environs as a world-class sports and entertainment facility," said New York Giants Chairman Steve Tisch. "Wasserman Media Group has the experience and background to help us explore all the alternatives we have and to make the important decisions about how best to achieve our goals by associating ourselves with dynamic and exciting sponsorship, marketing and naming partners."
"Today marks another important step as we work to build the premier football stadium and entertainment complex in the NFL," said Woody Johnson, chairman and CEO of the Jets. "Wasserman Media Group will expand and enhance our vision to make the New Meadowlands Complex the most innovative and memorable spectator environment in professional sports. We welcome them as partners in this process and look forward to working together in the coming months and years."
"We look forward to establishing mutually beneficial affiliations and relationships that will serve to enhance the prestige and image of what promises to be a truly extraordinary facility," said John Mara, resident and CEO of the Giants. "We expect to secure a naming partnership arrangement that reflects the unique nature of the opportunity.
New York Jets President Jay Cross said, "Designed from a fan perspective, this facility will transform the game day experience for our fans through cutting-edge technology and new amenities," said New York Jets President Jay Cross.. "We look forward to engaging potential sponsors and marketing partners who are as excited as we are about a project which will boast the best entertainment experience in the NFL."
"Given the strength and heritage of the Jets and Giants, coupled with the appeal and size of the market they serve, we anticipate there will be monumental interest in this historic opportunity," said Jeff Knapple, Ppesident, WMG Marketing. "We look forward to helping the teams realize the potential for a select partner to fully utilize this extraordinary marketing platform."
–Bob Grossweiner and Jane Cohen