Purpose – The purpose of this research was to investigate the benefits of the naming rights of the biggest Lithuanian sport arenas. Naming rights create the cost-effective relationships as an important tool of marketing communication. It is difficult to assess financial benefits of the transaction by the naming rights customers. But the sports facilities naming rights create additional value and provide businesses with a unique opportunity in market positioning. Design/methodology/approach – In order to determine the benefits of purchasing the naming rights of Lithuanian sports arenas, semi-structured interviews were carried out with five general managers. Three managers were responsible for the implementation of the arena’s naming rights sales contract and two managers were responsible for the activity of the arenas without naming rights. Statistical analysis was conducted using SPSS 17.0 statistical data processing program. Consistency of the informant opinions was calculated using Kendall concordance coefficient (W). The interviews were conducted in April, 2014. Findings – During the investigation process the benefits of arenas naming rights were revealed, the opportunities of naming rights buying and selling were highlighted, the trade value and trade barriers as well as the other aspects of the naming rights were indicated. Research results showed that the buyers of naming rights reached a high awareness, which was the main purpose of the company. Arenas are constantly hosting the famous sport events where the naming rights owner receives an inevitable public and media attention, thus, creating various direct and in-direct benefits for the company. Research limitations/implications – Research was largely based on the USA experience, as the scope of the European sport arenas naming rights research is quite limited. Part of information provided by the arenas managers was confidential. Arenas managers were also lacking the professional knowledge and skills regarding the naming rights issues in general. Practical implications – The wider understanding of the benefits of the naming rights will lead to the disclosure of other arenas owners and managers to promote the process, which could bring additional revenues for further business expansion. Originality/Value – Lithuanian capital companies are encouraged to take the advantage of exploring the sales of the naming rights as expanding investment opportunities in the sports sector.
- Naming rights
- Sport arenas
Cingiene, V., Suopys, L., & Gobikas, M. (2015). The benefits estimation of the naming rights by Lithuanian sports arenas general managers. International journal of academic research, 7(1), 269-273. https://doi.org/10.7813/2075-4124.2015/7-1/B.45