10 Disasters in Stadium Naming Rights
Home of: The Tennessee Titans (NHL)
Cost of naming rights: $2 million a year
How bad was Adelphia as a naming partner? So bad that when the company filed for bankruptcy in 2002, the Titans' stadium in Nashville went without a sponsor until 2006.
Adelphia bought the Coliseum's naming rights in 1999, but likely didn't consider what that purchase would do to its books. The company's hierarchy hid $2.3 billion in debt from shareholders while its officers pocketed $100 million for themselves. Adelphia ended up missing a payment on the naming rights in 2002 as a result, but that was only an omen of worse to come.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts