Rose Garden Rumors
The Portland Trail Blazers announced on Tuesday morning that they have reached a 10-year partnership deal with Moda Health for the naming rights to the Rose Garden. According to a city official who spoke on the condition of anonymity due to the private nature of these negotiations, says the deal is worth up to $4 million annually.
John Canzano: Source tells me the Blazers now “closing in” on deal for Rose Garden Arena naming rights. I’ll tell you more at 11:35p on @kgwsports Sunday
The new arena name should be in place for at least a decade, McGowan added. “These deals typically are large in scope, and the terms are usually pretty long as well,” McGowan said. “I would suggest that this will be our longest and most substantial partnership that we have as an organization. Typically, terms at least start at 10 years from a naming rights perspective. I would anticipate that that would be the case as well.”
The Trail Blazers expect to play in a renamed arena starting with the 2013-14 season, they could co-exist with an NHL team, but they still don’t see an immediate resolution to their TV dilemma. Blazers president Chris McGowan discussed those topics in an interview with The Oregonian on Thursday at the Rose Garden. McGowan said he expects the Rose Garden to have a new moniker by the time the Blazers start playing next season. The arena has not had a corporate name since it opened in 1995, but the Blazers have been working with Premier Partnerships since January to sell naming rights to the arena.
McGowan would like to have a contract in place before the 2013-14 NBA season. It’s not a done deal, though, that he’ll make a deal at all. “It’s good for our organization to have this revenue stream,” he says. “All of it would get reinvested into what we do on the court. There are only three NBA teams that don’t have (a naming rights deal). “But I’m going to be very cautious about it. I’m not going to do a deal with the wrong brand. We’re the Portland Trail Blazers. The Rose Garden has a great name. It’s not something we have to do, which is a good position to be in. There are a lot of companies that have to get deals done. We’re not one of them.”
McGowan is in the preliminary stages of selling the Rose Garden’s naming rights. He hired a company called “Premier Partnership” to facilitate the process. They have a list of about 100 businesses — some local, some national — that have a likelihood of interest. Three or four presentations have already been scheduled. “We’re getting pretty good feedback,” he says. “It could be a local company, which would be great, or it could be a (national) blue-chip brand.”