WEST VALLEY CITY — The E Center here has tried for years to sell naming rights to a corporate sponsor, but to no avail.
In 2000, Colorado-based beermaker Coors offered $8 million for the naming rights, but that deal was nixed by West Valley leaders. Since then, the venue has yet to find another suitor, although the search is continuing.
So, what is the fair market value for corporate sponsorship of a major sports and entertainment facility? It would depend on the location. FedEx Corp. pays $4.5 million yearly for the naming rights of the FedEx Forum in Memphis, Tenn. In Denver, the Pepsi Center goes for $3.4 million annually, and Arco Arena in Sacramento, Calif., is $750,000 per year.
Franklin Covey Field, another of Salt Lake City's sports venues, was the subject of controversy in 1993 when its naming rights were given to Franklin Quest Corp. after donations were made by the company and a group of company executives. At the time, critics said the one-time $1.4 million donation was too little for the facility's naming rights.
In November 2006, Utah's most famous sports venue changed its name after reaching a long-term naming-rights agreement. Salt Lake City-based EnergySolutions paid an undisclosed amount to have its name and corporate logo adorn the outside of the city's downtown arena for the next 10 years. It had been known as the Delta Center since opening in 1991.
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