spursfan1000
08-04-2009, 12:01 PM
The Magic and Amway Global have reached a 10-year, $40 million naming rights deal to call the team's new facility the Amway Center.
The current recession wasn't a huge roadblock for the Magic in their search for a naming rights deal because team owner Rich DeVos is also the co-founder of Amway.
The agreement is the sixth-largest total price for an NBA naming rights deal, according to the Sports Business Journal.
"I think that it's a good deal [for the Magic]," Smith College professor Andrew Zimbalist, who has written extensively about sports economics, told the Orlando Sentinel. "The thing about naming-rights deals is that the market is very thin. It's sort of like selling a luxury house. If the right person comes along at the right time, you can get a good price."
Orlando's new $480 million arena will open in the fall of 2010.
RealGm
The current recession wasn't a huge roadblock for the Magic in their search for a naming rights deal because team owner Rich DeVos is also the co-founder of Amway.
The agreement is the sixth-largest total price for an NBA naming rights deal, according to the Sports Business Journal.
"I think that it's a good deal [for the Magic]," Smith College professor Andrew Zimbalist, who has written extensively about sports economics, told the Orlando Sentinel. "The thing about naming-rights deals is that the market is very thin. It's sort of like selling a luxury house. If the right person comes along at the right time, you can get a good price."
Orlando's new $480 million arena will open in the fall of 2010.
RealGm