SANDY — Real Salt Lake hit a literal gold mine on Monday.
Rio Tinto, a global mining company that operates on six continents and employs 65,000 worldwide — including more than 2,400 at Kennecott in Utah — agreed to a 10-year deal with RSL for the official naming rights of the new soccer-specific stadium.
Rio Tinto Stadium officially opens to the public on Oct. 9 when Real Salt Lake hosts the New York Red Bulls in a nationally televised game on ESPN2 at 8 p.m.
"We're obviously very excited about having such an important relationship with a fantastic company, one with visionary leadership, strong local ties and most importantly a commitment to the community," said RSL owner Dave Checketts. "Quite frankly, we have found in every way the perfect partner."
Terms of the deal were not disclosed, but sources confirmed it's a 10-year deal worth roughly $1.5 million annually.
Rio Tinto has been one of the world leaders in mining and exploration for 130 years. For the past 20 years it's been the parent company to Kennecott Utah Copper, Kennecott Land Co., Kennecott Exploration and eight support functions that employ more than 2,400 people in Utah.
"We've always prided ourselves in strong support of the local communities wherever we work, including here in the Salt Lake Valley," said Bret Clayton, Rio Tinto CEO. "We want to continue to show our support going into the future, and that's one of the reasons we've taken this opportunity."
RSL President Bill Manning proudly declared it took just 42 days to reach an agreement after the two parties' initial meeting on July 29, perhaps the quickest stadium naming-rights deal in history according to Manning.
"The fact we have a world-class company deciding to partner with Real Salt Lake gives us credibility," Manning said. "This is a very proud day for our franchise."
Besides Rio Tinto's obvious connection to Utah through Kennecott, its CEO has strong local ties as well. A graduate of Skyline High School and the University of Utah, Clayton is thrilled to be giving something back.
"Soccer is a global sport ... that's why we find this opportunity in working with Real Salt Lake so exciting, and being associated with this stadium," said Clayton, who now resides in London but admits to cheering for Manchester United.
Andrew Harding, president and CEO of Kennecott Utah Copper, said a partnership with RSL is a terrific opportunity for Rio Tinto to educate Utahns about not just mining, but responsible mining and commitment to the community.
"Sponsorship of the Rio Tinto Stadium is one way we're giving back to the community in which we work and where we live. It's important that the younger generation and those new to the valley understand mining and more specific, Rio Tinto and Kennecott. This sponsorship helps us do that," he said.
The southwest corner of Rio Tinto Stadium will be known as Kennecott Plaza, and it will feature several telescopes pointing toward the Bingham Canyon Mine.
"This opportunity helps us tell our story and lets people know who we are on a local and global level," said Clayton. "Soccer transcends cultural and economic boundaries, as it did when Rio Tinto employees introduced soccer to Spain in the late 1800s. This was done to create recreational opportunities for those living in the village and bring people together. Not much has changed since then."
Rio Tinto Stadium is the seventh soccer-specific stadium in Major League Soccer, and it is the sixth to sign a corporate naming-rights sponsor. The estimated $1.5 million annual agreement puts RSL on par with the majority of the other MLS stadiums' naming-rights deals.
The four most recent teams to build stadiums are averaging $1.6 million for their naming rights. The high is BMO Financial Group, which is paying $2.7 million per season to name Toronto FC's stadium BMO Field. Toyota Park in Chicago is the low at $750,000 per year.
Dick's Sporting Goods is paying $2 million annually for the naming rights of the Colorado Rapids' home, while Pizza Hut is paying $1.25 million per year in Dallas.
All four of those stadiums are consumer brands, something Checketts said he initially sought. In the end, an estimated payday of $15 million was too good to pass up.
E-mail: jedward@desnews.com