Sponsorships

Many people have gone to a stadium events, especially sports games, and seen the various signs promoting goods all around them. We've seen signs for drinks, sports brands, shoes, even airlines. But have you ever stopped to consider where and why those signs are there? Sponsorship is a very big part of running a stadium, and there are multiple components involved with it. Sponsors are organizations that pay teams to advertise their products. The sponsors benefit through the promotion of their product or business and the teams are able to have more funds for things like supplies and equipment. Sometimes, sponsors use signage, the use of signs and symbols, for promotion. They also use naming rights, the right to put the name and logo (also called brand) of their company throughout a stadium. In order for sponsors and stadium owners to come to agreements, they use negotiation to find the right price that works for both of them. Another thing sponsors utilize is the association principle. This is when people simplify their decision making by relying on how they feel emotionally about certain topics. Another tool used is passion transference, when fans that have strong loyalty to certain teams adapt that loyalty to brands associated with those teams. The rest of the tools include product promotions/endorsements (endorsements by celebrities) and TV broadcast rights (right to record and stream a game on TV). All of these deal with perceived value, the value someone attaches to something they would like. These components and more make up sponsorship of games.