Clemson defeated Alabama, 35-31, in Monday night’s exciting college football championship, but Raymond James Financial says it was a winner, too.
“As one of the longest continuing sponsors of a stadium in professional sports, we’ve received great value for our investment in Raymond James Stadium over the past 18 years, and last year we extended the sponsorship for an additional 12 years, anticipating significant brand exposure during many events held at the stadium, including [Monday’s] College Football Playoff National Championship game,” said Chief Marketing Officer Michael White.
More than 26 million people watched Monday night’s game, according to a Bloomberg report on Tuesday.
The stadium seats up to 75,000 people and hosted the Super Bowls in 2001 and 2009. It is the home base for the NFL’s Tampa Bay Buccaneers.
“While it is difficult to put a precise figure on the value of the exposure provided by naming rights, we understand ads during the game are selling for north of $1 million, and most advertising analysts would suggest the value of media exposure for a stadium sponsor would be multiple times that of an ad for the game,” White explained.
He declined to disclose what Raymond James pays for the stadium’s naming rights.
“We’re obviously pleased with the brand benefit we’re receiving from this particular event, especially as it comes on the heels of significant investments in the stadium, including new video scoreboards and ramp-top signage,” he added. “There are even special sails on the stadium’s iconic pirate ship, which we expect to get some additional airtime.”
In addition to special sporting events and concerts — like one by U2 set for June 14 — the stadium hosts the home games of the University of South Florida’s Bulls football team.
“Overall, we’re proud of the partnership with the Buccaneers and the Tampa Sports Authority, and pleased with what it means for the entire Tampa Bay area and well as the brand support it provides our advisors around the country,” White said.