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The Times is the first newspaper in the nation to place its name on a major sports and entertainment arena or stadium.
By THOMAS C. TOBIN
© St. Petersburg Times, published September 4, 2002
After six years of hosting hockey games and concerts in downtown Tampa, the Ice Palace finally will sport a sign on the building. It will say: St. Pete Times Forum.
The change was announced Tuesday after the St. Petersburg Times signed a naming rights agreement with Palace Sports & Entertainment, the arena's leaseholder and the owner of its primary tenant, the Tampa Bay Lightning.
The 12-year deal with an option for another 12 years makes the Times the first newspaper in the nation to place its name on a major sports and entertainment arena or stadium.
The new name, effective today, will be installed on the arena's east, west and north facades by Dec. 1. It also will be featured on the arena ice, on all tickets sold to arena events, and on more than 40 street and directional signs throughout downtown Tampa. Ice Palace Drive, near the arena, will be renamed St. Pete Times Forum Drive.
Financial terms of the agreement were not disclosed.
"This deal demonstrates that the Tampa Bay area is growing steadily into a single metro region, and that the St. Petersburg Times is the premier newspaper for that region," said Paul Tash, editor and president of the Times.
"We think it's going to give us a lot of appeal regionally," said Ron Campbell, president of the Lightning and the newly renamed building. "We're very excited about having a local company step forward."
Said Tampa Mayor Dick Greco: "I am very happy to see a local business step up to rebrand such an important part of our fabric."
The team has come close to naming rights deals two or three times, most recently with a local telecommunications company, Campbell said. The challenge, he said, has been finding a naming rights partner in the Tampa Bay market, which has relatively few corporate headquarters.
In the Times, Palace Sports found a partner that had been a major sponsor at the arena for three years. The newspaper and Palace Sports were halfway through a six-year sponsorship agreement when the naming rights deal was signed. The elements of that agreement are included in the new deal.
"I believe we have found the perfect partner for the naming rights opportunity," Campbell said. "Not only for the good of our organization but for the good of the entire community."
Tash said of the Lightning ownership: "We think that their business values and philosophy are likely to be congruent with our own."
Talks between the newspaper and arena officials began in February. Campbell said the discussions began casually, then reached a serious pitch about a month ago.
Addressing the abbreviated use of the newspaper's name, Tash said, "Every headline writer knows that the fewer the characters, the bigger the type. Besides, everybody already knows us as the St. Pete Times."
A Times news release said the agreement does not include a revenue-sharing component and would not affect its news coverage of the arena or the Lightning. It also would not affect the newspaper's relationship with advertisers, the statement said. It cited similar deals at Tropicana Field, International Plaza and Ruth Eckerd Hall.
Around the nation, naming rights at major sports arenas vary wildly in price. Several arenas with National Hockey League tenants such as the Lightning have long-term deals that pay from $700,000 to $2-million a year. A few deals in larger markets reach into the $5-million range and higher.
Raymond James Financial paid a reported $39-million for 13 years for naming rights to the Tampa Bay Buccaneers' home stadium. Tropicana Dole Beverages North America will pay about $50-million over 30 years at the Devil Rays' home ballpark in St. Petersburg.
Campbell said the revenue from naming rights is "a start" toward turning around the Tampa building's prospects. An audit commissioned by the Hillsborough County Commission concluded last month that the Lightning lost $18-million last year and the arena lost $2.8-million.
"It's part of the building process and part of the resurgence and turning around this project," he said. "But we do need continued help."
Greco called on other businesses to "follow suit ... because the arena is a driving factor to our economy and its vibrancy."