Now presenting `Bears football, from Bank One'
(KRT) - The politicians persuaded the Chicago Bears not to sell the naming rights to the team's newly rebuilt stadium. But the Bears figured out how to get the big bucks anyway.
On Monday, they sold the name of the team, or came pretty close.
No longer will the old franchise, which was there at the NFL's creation, refer to itself exclusively as the Chicago Bears. From now on, whenever possible, it will be "Bears football presented by Bank One."
The bank, which is based in Chicago, paid an undisclosed amount to be the team's "presenting partner" for the next 12 years, the first such arrangement in NFL history.
Although one media report placed the number at $50 million, sources familiar with the deal said the actual figure was somewhat less.
Ted Phillips, the Bears' president and chief executive officer, said the deal would bring "a new level of corporate partnership to the city of Chicago and the NFL."
For its money, the bank will get signs all over the stadium, advertisements on the Bears' radio broadcasts and nongame television programs, the franchise's banking business, a presence at training camp, and a sponsorship role in the team's community outreach efforts.
In addition, the team will make frequent use of the signature phrase that includes the bank's name on the air and in print. Whether anyone else uses it remains to be seen.
Full story
(KRT) - The politicians persuaded the Chicago Bears not to sell the naming rights to the team's newly rebuilt stadium. But the Bears figured out how to get the big bucks anyway.
On Monday, they sold the name of the team, or came pretty close.
No longer will the old franchise, which was there at the NFL's creation, refer to itself exclusively as the Chicago Bears. From now on, whenever possible, it will be "Bears football presented by Bank One."
The bank, which is based in Chicago, paid an undisclosed amount to be the team's "presenting partner" for the next 12 years, the first such arrangement in NFL history.
Although one media report placed the number at $50 million, sources familiar with the deal said the actual figure was somewhat less.
Ted Phillips, the Bears' president and chief executive officer, said the deal would bring "a new level of corporate partnership to the city of Chicago and the NFL."
For its money, the bank will get signs all over the stadium, advertisements on the Bears' radio broadcasts and nongame television programs, the franchise's banking business, a presence at training camp, and a sponsorship role in the team's community outreach efforts.
In addition, the team will make frequent use of the signature phrase that includes the bank's name on the air and in print. Whether anyone else uses it remains to be seen.
Full story
