Nels Popp
Timothy DeSchriver
Chad McEvoy
and Mark A. Diehl

 DeSchriver and Jensen (2003) and Gerrard, Parent, and Slack (2007) have performed valuation studies of North American sport venue naming rights agreements, focusing on professional sport team stadia. No empirical research exists that solely examines the values of collegiate sport venue naming rights. This study attempts to fill that void, utilizing a hedonic pricing model. Naming rights agreements for 44 venues in which an NCAA Division I football or basketball team was the primary tenant were identified. Based on the literature, a final model consisting of eight explanatory variables...Read more

Matthew Walker
Michael J. Mondello

The issue related to public investment in sport facilities has generated lively debate between economists, researchers, and policy makers. Empirical evidence detailing benefits derived from such initiatives has become mired in the discussion of whether sports stadiums do serve as economic catalysts. Research has demonstrated that new stadiums and arenas have no significant fiduciary impact on local economies, including employment. However, a possibility not fully explored is the idea that stadiums and teams generate both tangible and intangible benefits that can support the justification...Read more

Bill Gerrard
Milena M. Parent
Trevor Slack

This study adopts a multi-attribute hedonic-pricing benchmark valuation approach to the determination of the observed market value of stadium naming rights. Using a sample of 112 naming rights deals covering both major-league and non-major-league facilities in North America over the period of 1979-2002, a hedonic-pricing model is estimated using regression analysis. It is found that the value of stadium naming rights is highly systematic and information-efficient. Naming rights value is principally related to variables reflecting the size of potential target audiences including the...Read more