Team Services Secures Yum! Brands, Inc. as Naming Rights Partner for Louisville’s New Downtown Arena
KFC Yum! Center agreement features one of the highest annual naming rights revenue for any collegiate facility
Louisville, KY (April 19, 2010) – Team Services is pleased to announce that we have secured an agreement with Yum! Brands, Inc. to become the naming rights partner of the newly constructed arena in Louisville, Kentucky. The new KFC Yum! Center will be home to the nationally-renowned University of Louisville men’s and women’s basketball teams, and will host premier concerts and entertainment events. Team Services brokered the 10-year, $13.5 Million agreement on behalf the Louisville Arena Authority (LAA). The agreement includes an option to extend the term by an additional five years to a total of 15-years.
The LAA retained Team Services as its exclusive representative for the naming rights sales process when construction began on the 22,000 seat waterfront arena. Despite the nearly unprecedented, turbulent economic climate, Team Services demonstrated the immense value of the partnership to Fortune 500 member Yum! Brands. Our firm worked very closely with both Yum and the LAA over the course of multiple months to develop a naming rights program intended to accomplish an array of company and arena objectives.
“Our goal from the onset was to create the optimal naming rights program for the arena – not just from a financial standpoint, but also from a community activation, brand heritage, and corporate citizenship standpoint. We had to remain disciplined in a trying economic climate, but we persisted with our strategy and secured an ideal partner in Yum! Brands,” said Team Services Principal EJ Narcise. “Together with Yum! Brands we have crafted a ‘partnership platform’ that will allow the community to be the true benefactor of this relationship.”
As part of the naming rights partnership, Yum! Brands will receive prominent exterior signage, including positions overlooking the Ohio River as well as placements visible from major roadways. Yum! will also vend branded food items from KFC, Taco Bell and Pizza Hut in multiple concessions locations. Additional partnerships rights include a center court luxury suite, digital messaging rights, an interior signage package and the opportunity to utilize the arena for select corporate and community functions.
“Yum! Brands is extremely proud that Louisville’s newest and most spectacular venue will be named the KFC Yum! Center,” said David Novak, Chairman and CEO, Yum! Brands, Inc. “As the world’s largest restaurant company based in Louisville, with 1,400 local employees, we have always been committed to investing in our own hometown…The KFC Yum! Center is another great way for us to give back to the community and make it a great place for our employees and their families,” said Novak.
Along with our sister organization, Louisville Arena Sports and Entertainment Properties (LASEP), we have secured over $37.5 Million in sponsorship and naming rights revenue for the LAA. Arena Authority Chairman Jim Host took time to recognize Team Services’ accomplishment during the announcement ceremony. “(The LAA) is absolutely thrilled to unveil our new arena name, KFC Yum! Center. And we are deeply appreciative of Team Services’ efforts in culminating the naming rights transaction with Yum! Brands.”
