Weekly News Wrap-Up, March 11 – March 17

Looking to stay up to date on the latest trends in advertising, marketing and public relations? Here are this week’s biggest sponsorship news headlines:

Drake’s OVO Sound Signs Naming Rights Deal With Raptors

The Toronto Raptors have reached an agreement with Grammy award-winning artist Drake to extend their marketing relationship for many years to come. According to a recent press release at NBA.com, the Raptors training facility will now be known as the OVO Athletic Centre. OVO Sound is a Toronto-based record label founded by Drake that is a subsidiary of Warner Music Group. For nearly six years, Drake has been a brand ambassador for the team but the naming rights agreement will take the partnership to a whole new level. The facility opened in 2016 and will have prominent OVO Athletic Training Centre signage inside and outside of the building. 

Jacksonville Approves Vystar Naming Rights Agreement 

Veterans Memorial Stadium will have a new moniker in the coming days. The Jacksonville City County unanimously approved a naming rights agreement with Vystar Credit Union. In addition to naming rights for Vystar Veterans Memorial Stadium, the credit union will obtain rights to operate an ATM machine inside the stadium as well as Times-Union Center for the Performing Arts, Ritz Theatre and Museum and the Prime Osborn Convention Center. The Jacksonville Daily Record is reporting that the agreement is for 15 years in length with annual escalations and a renegotiation clause should the stadium become anchored by a pro sports team. 

Reading Chamber Of Commerce Offering Naming Rights

The Greater Reading Chamber Alliance recently introduced a program for its members to pay for naming rights of its meeting rooms in its building at 606 Court Street in Reading, PA. The chamber moved to the facility in early 2018 and offers naming rights sponsorship as part of its suite of advertising opportunities for more than 1,300 members in the Greater Reading area. According to the Reading Eagle, Brentwood Industries signed a five year agreement and was one of the first organizations to secure naming rights for a conference room within the building.

“The naming rights were a way to offer some additional exposure to chamber member companies, given that our new headquarters has attractive and functional meeting rooms.” Randy Peers (President and CEO of the Greater Reading Chamber Alliance)

Are you a looking for a sponsor for your event or venue? Sign up to add your naming rights sponsorship opportunity to the NameRights.com marketplace for free!