Posted on 06/17/2003 9:16:51 AM PDT by foreverfree
06/17/2003 12:00 PM ET
Citizens Bank enters 25-year naming rights partnership with Phillies
PHILADELPHIA, PA, June 17, 2003 -- The Phillies and Citizens Bank -- one of the nation's 20 largest commercial bank holding companies -- have entered a 25-year partnership that includes naming the team's New Ballpark, Citizens Bank Park.
David Montgomery, General Partner and President for the Phillies, and Stephen D. Steinour, Chairman & CEO of Citizens Bank, made the joint announcement at a noon press conference located adjacent to the New Ballpark that will open in April 2004.
"This long-term partnership with Citizens Bank is a clear indication that a new era in Phillies baseball has begun," said Montgomery. "We are extremely pleased and excited to team up with such a prestigious organization and look forward to continuing this wonderful partnership together.
"We believe our facility is 'Not Your Typical Ballpark' when you consider the open plaza entrances, 360 degrees of open concourses, a bi-level scoreboard restaurant, an Ashburn Alley festive entertainment area, intimate seating throughout and great sightlines," Montgomery added.
"Citizens Bank is thrilled and honored that the new home of the Phillies will be named Citizens Bank Park. This unique and extensive partnership with the Phillies, our dedication to Philadelphia and our commitment to the community make this an extraordinary investment," said Steinour. "We are Philadelphia's hometown bank and our longstanding partnership with the Phillies will make Citizens Bank Park a world-class facility. We are delighted to have this incredible partnership with the Phillies, a team with the longest-held sports tradition of any in the country."
The unique and comprehensive package totals $95 million over 25 years. It is broken down into $57.5 million for naming rights and $37.5 million for the Phillies broadcast media package. Citizens Bank continues its relationship as the "Official Bank of the Phillies."
Citizens Bank Park Home Run Spectacular Fans will be treated to a new home run celebration, the icon of Citizens Bank Park. A gigantic Liberty Bell (50' high and 35' wide) accompanied by a Citizens Bank Park sign will be located in left-center field above the rooftop bleacher seats.
Towering 100 feet above street level, the Bell will come to life after every Phillies home run. The Bell and clapper will swing side-to-side independently and its neon edges will light up and pulsate. The Bell's ring will be heard throughout Citizens Bank Park.
Even more, I'd have preferred the Phils and the Birds remain at Broad (not 11th) and Pattison rather than raid the public treasury again. I watched the implosion of Cinergy Field live on FNC, and someone watching with me said "what a waste of steel and concrete." That's my feelings towards the end of the Vet too.
Anyway, are naming rights for sports facilities still a good or a bad idea? Inquiring FReepers want to know.
foreverfree
But what bothers me is the REnaming of ballparks. Don't you dare call it Candlestick Park or Comiskey Park.
PNC Park and Heinz Field are fine with me, but when they told me I had to start calling The Civic Arena "Mellon Arena" I said "When do I get my check?"
Depends who you ask, I guess. Does it help the bottom line, or is the revenue eaten up by inflating payrolls? To the fan, it is a compromise of aesthetics and even in franchise pride in exchange for dollars. Does it translate into lower ticket prices? Lower concessions prices? Seems to me the whole thing just inflates and inflates, and the businesses themselves still cry insolvency. I don't think it's a a winner, but I could be wrong.
When? I don't see this news on nascar.com.
foreverfree
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