Earlier today, on Street Signs, Erin Burnett interviewed New York Giants president and CEO John Mara and Timex president and CEO Hans-Kristian Hoejsgaard about the naming rights deal on the Giants practice facility that the Wall Street Journal reported was a 15-year, $35 million deal. (See the video below.)
Erin: Mr. Mara, is this price about right? Did you feel like you had to give up something because of the economic times we're in or do you think getting naming rights for a practice stadium is simply good news in and of itself.
Mara: No, we're very happy with this little deal. I think your numbers are a little off by the way.
Erin: Please tell us what they are. We're citing the Wall Street Journal. Can you be more specific?
Mara: Well, the Wall Street Journal is not always accurate. The number is a little bit higher than that. I'm not going to get into the specifics of it. Let's just say it's a very healthy deal for our franchise and it's as lucrative as any naming rights deal out there in terms of practice facilities. And it's something we're very happy about, particularly to be associated with a quality brand like Timex.
Erin: So higher than 35 (million)? And appreciate that. I'm not out to correct anybody else. But we would rather just get it right. Let me ask you, what made you decide to go for naming a practice stadium? You don't get as much television time there, do you?
Hoejsgaard: There was a variety of reasons we wanted to do this deal. First and foremost, getting two great icons together. The Giants franchise and the Timex brand have a lot in common. And we're all about performance...So the fact that we can name the training facility and corporate headquarters the Timex Performance Center is very, very good for us. And having said that we are not absent from the stadium. You will also have the Timex countdown to kickoff, Timex timeouts in the stadium.
Erin: When you're saying on the stadium, you are saying in the game?
Hoejsgaard: Yes. So you will also have the clocks in there, which I think will interest a lot of people.
Erin: What about jerseys? I know the NFL is allowing logos to go on practice jerseys this year. Does this deal include that?
Hoejsgaard: It sure does. We will have the Timex logo on the practice jerseys and we're pleased with that.
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