Falcons sell $900M in stadium sponsorships, report says
30 November 2016
The Falcons organization has sold corporate sponsorships at Mercedes-Benz Stadium totaling more than $900 million in contractually obligated long-term revenue, SportsBusiness Journal reports in this week’s edition.
The publication attributes the figure to “sources close to the organization.”
The figure would put the Falcons within $100 million of their original goal of $1 billion in contracted sponsorship revenue.
The revenue will come in over the course of many years. The naming-rights deal with Mercedes-Benz, for example, runs for 27 years. Other major sponsorship deals on new stadiums often run for 10 years or longer.
Among the corporations that have agreed to sponsorship deals on Mercedes-Benz Stadium: Coca-Cola, SunTrust Banks, IBM, Equifax, Home Depot, American Family Insurance, Novelis and NCR.
Some of the sponsorship revenue will go toward paying off long-term debt that the Falcons organization took on to fund its portion of the stadium cost.
When the organization closed on $850 million in financing for the stadium in August, Falcons executive vice president and chief financial officer Greg Beadles told the AJC that some contractually obligated revenue streams from naming rights, other sponsorship deals and suite sales were pledged toward re-paying the debt.
Officials with Falcons parent company AMB Group are confident of setting a record in sponsorship sales for a U.S. stadium, according to SportsBusiness Journal’s report, which noted the record should last at least until the Los Angeles Rams’ new stadium opens.