Carrier Dome no more: Syracuse cancels lifetime naming contract

[CashewCrew]

To be replaced by a regional wireless carrier that no one has ever heard of.

 

[BigErnMcCracken]

We should have passed the hat. Missed opportunity.

 

[Dove]

Navage came in second place.

 

[M.S.G.]

I thought this was an Onion article when I saw it on Twitter, my goodness what a bad look for the school.. Sad..

 

[methodology]

I thought this was an Onion article when I saw it on Twitter, my goodness what a bad look for the school.. Sad..

It was an outdated naming contract and they were loosing out on money for years. Carrier knew they were making out like bandits and it caused a rift between Syracuse and carrier. I think Syracuse even removed them from their media guide as a sponsor

 

[polycom]

I thought this was an Onion article when I saw it on Twitter, my goodness what a bad look for the school.. Sad..

When the Lakers took more money to change Staples you had to know this was coming.

 

[M.S.G.]

It was an outdated naming contract and they were loosing out on money for years. Carrier knew they were making out like bandits and it caused a rift between Syracuse and carrier. I think Syracuse even removed them from their media guide as a sponsor

Didn't know that, wild!

 

[ctchamps]

To be replaced by a regional wireless carrier that no one has ever heard of.

So it can still be named The Carrier Dome?

 

[Husker Husky]

It can't be as bad as here in Omaha. We have the CHI Health Center. Still can't figure out who the head nitwit was that pushed that one through. Yep, you can watch a basketball game or maybe get a colonoscopy, or both.

 

[Skiblets]

I guess Autozone wasn't interested?

 

[NowInStorrs]

The JMA Dome!

 

[John]

Why hasn't UConn sold the naming rights to Gampel?

 

[AllAbout5]

Why hasn't UConn sold the naming rights to Gampel?

Gampel should never be changed

 

[CL82]

It was an outdated naming contract and they were loosing out on money for years. Carrier knew they were making out like bandits and it caused a rift between Syracuse and carrier. I think Syracuse even removed them from their media guide as a sponsor

Carrier paid its money upfront. When you buy “lifetime“ naming rights it doesn’t mean until one party decides it doesn’t like the deal anymore. In my opinion Syracuse unilaterally stopping using the name Carrier Dome as in extortion tool to get Carrier to pony up more money was a really bad look for them.

But I’ll give them this, the name JMA Wireless Dome really rolls right off the tongue.

 

[methodology]

Carrier paid its money upfront. When you buy “lifetime“ naming rights it doesn’t mean until one party decides it doesn’t like the deal anymore. In my opinion Syracuse unilaterally stopping using the name Carrier Dome as in extortion tool to get Carrier to pony up more money was a really bad look for them.

But I’ll give them this, the name JMA Wireless Dome really rolls right off the tongue.

The original contract was signed in 1979 before college athletics became the business it is today. The terms are severely outdated and has cost the athletic department tens of millions of dollars in revenue. Carrier should have renegotiated in good faith and restructured the deal to be more in line with today since the whole college athletic landscape has changed/evolved dramatically since 1979.

Syracuse was right to fund their own renovations and create a situation to say the new venue is no longer the same building and to get out of the deal they were in.

SU still trying to minimize Carrier Dome naming rights (LINKS)

SU’s latest gambit continues an effort to get a more lucrative one (with someone else) in place.

www.nunesmagician.com

Back when the Dome was built, Carrier (then a local company) provided a $2.75 million gift in exchange for lifetime naming rights — one of the first deals of its kind at the collegiate level. Since then, sports has become much bigger business and rights like that could easily go for somewhere between $3 million and $5 million per year for a program like Syracuse.

 

[JustbrewitMan]

Navage came in second place.

Darn… You beat me to this joke

 

[CL82]

The original contract was signed in 1979 before college athletics became the business it is today. The terms are severely outdated and has cost the athletic department tens of millions of dollars in revenue. Carrier should have renegotiated in good faith and restructured the deal to be more in line with today since the whole college athletic landscape has changed/evolved dramatically since 1979.

Syracuse was right to fund their own renovations and create a situation to say the new venue is no longer the same building and to get out of the deal they were in.

SU still trying to minimize Carrier Dome naming rights (LINKS)

SU’s latest gambit continues an effort to get a more lucrative one (with someone else) in place.

www.nunesmagician.com

Back when the Dome was built, Carrier (then a local company) provided a $2.75 million gift in exchange for lifetime naming rights — one of the first deals of its kind at the collegiate level. Since then, sports has become much bigger business and rights like that could easily go for somewhere between $3 million and $5 million per year for a program like Syracuse.

Keep in mind that “$2.75 million gift“ was 10% of the original construction costs. It was sizable, back in the day. All that said, when you sell that naming rights for the lifetime of an arena, it means the lifetime of the arena, not some arbitrary shorter. Because you don’t like the deal you made anymore.

Note that Syracuse had to negotiate with carrier to get out of the deal. It wouldn’t surprise me if they ended up paying more to carrier than carrier paid for the rights in the first place.

In the end it comes down to institutional integrity. Syracuse decided it didn’t have any.

 

[Billy Bob]

Why hasn't UConn sold the naming rights to Gampel?

The Gampel name has that national significance. Huh? At least get naming rights from some pizza joint; Pepe's or Sally's

 

[Fishy]

Why hasn't UConn sold the naming rights to Gampel?

“Ahhhh, what?” - Harry A. Gampel’s ghost

 

[huskyjawz]

Nothing's worse than Bridgeport's brand new music venue named the Hartford Healthcare Amphitheater.

Way to market your city.

 

[FfldCntyFan]

It was an outdated naming contract and they were loosing out on money for years. Carrier knew they were making out like bandits and it caused a rift between Syracuse and carrier. I think Syracuse even removed them from their media guide as a sponsor

This post makes me think of the "Jump to Conclusions mat" from Office Space.

 

[FfldCntyFan]

0

The original contract was signed in 1979 before college athletics became the business it is today. The terms are severely outdated and has cost the athletic department tens of millions of dollars in revenue. Carrier should have renegotiated in good faith and restructured the deal to be more in line with today since the whole college athletic landscape has changed/evolved dramatically since 1979.

Syracuse was right to fund their own renovations and create a situation to say the new venue is no longer the same building and to get out of the deal they were in.

SU still trying to minimize Carrier Dome naming rights (LINKS)

SU’s latest gambit continues an effort to get a more lucrative one (with someone else) in place.

www.nunesmagician.com

Back when the Dome was built, Carrier (then a local company) provided a $2.75 million gift in exchange for lifetime naming rights — one of the first deals of its kind at the collegiate level. Since then, sports has become much bigger business and rights like that could easily go for somewhere between $3 million and $5 million per year for a program like Syracuse.

So by this logic, anyone who purchased shares of Amazon in 1997 now owes Bezos a few thousand dollars per share.

 

[ConnHuskBask]

Don't sign a lifetime contract if you're not sure how the landscape will change...in the lifetime of the stadium.

Almost as bad a signing a coach to a 10M extension and trying to get out of because you don't feel like paying it.

 

[HuskyHawk]

“Ahhhh, what?” - Harry A. Gampel’s ghost

He got it for a bargain. What a screwup that was.

 

[gtcam]

The original contract was signed in 1979 before college athletics became the business it is today. The terms are severely outdated and has cost the athletic department tens of millions of dollars in revenue. Carrier should have renegotiated in good faith and restructured the deal to be more in line with today since the whole college athletic landscape has changed/evolved dramatically since 1979.

Syracuse was right to fund their own renovations and create a situation to say the new venue is no longer the same building and to get out of the deal they were in.

SU still trying to minimize Carrier Dome naming rights (LINKS)

SU’s latest gambit continues an effort to get a more lucrative one (with someone else) in place.

www.nunesmagician.com

Back when the Dome was built, Carrier (then a local company) provided a $2.75 million gift in exchange for lifetime naming rights — one of the first deals of its kind at the collegiate level. Since then, sports has become much bigger business and rights like that could easily go for somewhere between $3 million and $5 million per year for a program like Syracuse.

If the Cuse hierarchy decided at that point to enter a lifetime agreement - that sucks for them. It’s an agreement. Who the hell did they hire as a law firm to look over the contract? Probably a relative of the Picker. Carrier has no legal footings to feel compelled to renegotiate in good nature. Typical Cuse. Then again it could happen in Storrs with the UConn BOT that they have had in recent years.