Unfortunately for the Yankees' obsessed boys at 85 Broad, it does not look like the Bronx Bombers will be playing in the “Goldman Sachs Stadium” anytime soon
Sorry to inform our loyal Goldman Sachs readers, but despite the impending opening of a new stadium for our beloved Yankees, the Yankee’s chief operating officer, Lonn Trost, is quoted as saying that the team “[will not] change the name of Yankee Stadium.” Perhaps George Steinbrenner, in his dementia-like state, failed to realize that Citi Group paid $800 million for the naming rights of the Mets Stadium. A price tag like that would certainly come in handy when in 2007 you pay Roger Clemens $1 million per game.
The naming rights, however, for the new Giants/Jets stadium is up for sale. The privilege for the naming of the stadium could easily top $1 billion. A mere drop in the bucket for Goldman. My intuition senses “Goldman Sachs Football Stadium”?
--Davey Bachs, DealBreaker Intern
How the Business of Corporate Naming Rights is Changing [Fox Business]
Posted by , Jan 04, 2008 4:08PM
"failed to realize that Citi Group paid $800 million for the naming rights of the Mets Stadium"
$20MM/yr for 20 yrs = $800MM??
Posted by Prince , Jan 04, 2008 4:09PM
"failed to realize that Citi Group paid $800 million for the naming rights of the Mets Stadium"
$20MM/yr for 20 yrs = $800MM??
Posted by I heart 85 Broad[s] , Jan 04, 2008 4:10PM
new intern at DB? Bess, i hope you're hazing him properly.
Here's a question for all those loyal GS readers: If you guys buy the stadium do you absolutely HAVE TO PUT GLORY HOLES IN EVERY STALL? I mean seriously, i know you like your quick, anonymous orgasm sessions but didn't you get enough of those at Harvard and Penn?
-Alpha
Posted by Prince , Jan 04, 2008 4:10PM
"failed to realize that Citi Group paid $800 million for the naming rights of the Mets Stadium"
$20MM/yr for 20 yrs = $800MM??
Posted by blame fox business , Jan 04, 2008 4:15PM
fromt he article:
"...to the huge $800 million deal the New York Mets signed with Citigroup (C: 28.28, -0.65, -2.24%) for the team's new park, Citi Field."
Posted by girl , Jan 04, 2008 4:21PM
There once was an intern called Bachs,
Who dreamed of working at Goldman Sachs,
But he found himself instead,
With a great deal of dread,
fetching Carney his Tea and Toast,
and deleting slimjim's posts.
Surely he wishes himself dead.
Posted by 1-2 , Jan 04, 2008 4:53PM
I'm submitting "deleting slimjim's posts" for that Dirtiest Jobs show on discovery.
Welcome aboard Bachy. I can only give you these words of advice: Abandon All Hope Ye Who Enters Through Dealbreaker's Doors.
And lord have mercy on your sould if you slip up again.
Oh, and don't pick up the soap when SlimJim's around. You'll recognize him by his anti-semetic glare and disdain for success.
Posted by HAM'05 , Jan 04, 2008 4:55PM
girl, your simple rhyme meter has inspired me to spin lyrical gold:
winters breath blows hard
as does bachs under the desk
tears flow gently down
Posted by Nominate me , Jan 04, 2008 4:57PM
BRAVO girl and HAM! BRAVO!
Posted by girl , Jan 04, 2008 5:06PM
Wise words 1-2. It would do Bachs well to heed them.
HAM - I'm doing the 90's hipster clap for you *snap snap*. well done, sir
Posted by Anal_yst , Jan 04, 2008 5:20PM
I was never any good at poetry, but clearly Girl and Ham didn't sleep through their lit classes, touch.
I am the man from nantucket btw (about all the "poetry" i know these days, i know, how cultured right?)
Posted by , Jan 04, 2008 5:21PM
Was there any jobs news today? I heard there was something.
Posted by Stranded , Jan 04, 2008 5:27PM
1-2; Dante meets Dealbreaker, well done.
Posted by girl , Jan 04, 2008 5:27PM
HAM's is more subtle than mine and therefore far more poignant.
did you just try to rhyme by-the-way with touche? you're a natural!
Posted by 5th grader , Jan 04, 2008 5:32PM
@ Anal_yst - in addition to lit classes, you may have also slept through french: i think you meant "touche"
Posted by Anal_yst , Jan 04, 2008 5:35PM
'touch' instead of 'touche' was a typo, i'm not witty enough (or ambitious, creative, blah blah) to try to rhyme anything, I"ll leave that to the Pros, Ham, Girl, etc.
You guys give me too much (little?) credit
@ 5th grader - slept straight through hebrew, spanish, latin, butt never french
Posted by , Jan 04, 2008 6:39PM
Hey Bachs take a pic of Bess please!?!
Posted by rahodeb , Jan 04, 2008 7:11PM
lets not forget Barclays & the nets, if that thing ever happens
Posted by Me , Jan 05, 2008 9:46AM
Jesus, kid, do a little research:
Trost acknowledged that because of the history of the name Yankee Stadium, a rights deal might have backfired for the company that put its name atop the marquee of the new ballpark.
“If we were foolish enough to have sold it, any company that would have taken the name would have been injured by it,” Trost said.
Knowing that, he said, the partnership with CAA will help the Yankees benefit financially by offering expanded sponsorship deals to companies in the new ballpark. Trost and Levine said specific plans were still in development, but there would be no advertising on uniforms, which is against Major League Baseball rules, and Trost stressed the ballpark would not be cluttered with corporate logos.
“We don’t want to make it look like a carnival or a rodeo,” Trost said. “This will be done intelligently and will not ruin the image of Yankee Stadium.”
Posted by Ghost of Ty Cobb , Jan 07, 2008 9:25AM
Did we all see Clemens choke a little last night when Mike Wallace asked him if he'd take a lie detector test re steroid use?? LOL!!
"Clemens: Well,sure but, uh, I, uh, don't know ho good those things are, uh....."