Macquarie Point stadium: Big brands line up to secure naming rights to proposed venue

“Blue chip” companies are expressing strong interest in securing the naming rights to the proposed Macquarie Point stadium, with the value of the potential partnership expected to be “significant”.

“Blue chip” companies are lining up to secure the naming rights to the proposed Macquarie Point stadium, with the value of the lucrative sponsorship expected to be “significant”.

While no formal discussions have occurred yet, Stadiums Tasmania boss James Avery told the Mercury “a number of organisations” had indicated “strong interest” in lending their brand name to the $715m venue.

Mr Avery’s comments come after iconic Tasmanian footwear brand Blundstone announced it would be ending its 13-year naming rights sponsorship of Bellerive Oval in October.

“What you can see, even nationally and internationally … is traditionally you have large-scale organisations, really big organisations across the major industries, that are looking to partner on a naming rights basis,” he said.

Renders showing the relocated Goods Shed at Macquarie Point, to make way for a multipurpose stadium. Picture: Cox Architecture

“You look at some of the venues that have come up in recent years – these are big blue-chip organisations that are looking to have deep market penetration and broad brand awareness.

“With that in mind, you can expect that there will be some pretty big organisations, whether they’re national or international, who will want to sit down and have a conversation about naming rights opportunities.”

Mr Avery said while there were a number of factors that determined the value of such a commercial arrangement “we think the value for the naming rights partnership on the venue will be significant”.

Stadiums Tasmania is a statutory body overseeing the management and development of stadium infrastructure across the state. It will eventually assume ownership of University of Tasmania Stadium, the Silverdome, MyState Bank Arena, Bellerive Oval, and Dial Park, as well as the Macquarie Point stadium.

Inaugural Stadiums Tasmania CEO James Avery. Credit: Supplied

According to Mr Avery, revenue from the venue’s commercial partnerships would be reinvested back into the stadium to ensure the “experience for those people attending … is the best it can be”.

He also said there would be opportunities for local businesses to partner with the venue to promote their products and brands.

Hunter Fujak, a lecturer in sport management at Deakin University, predicted that the value of the naming rights to Macquarie Point stadium would be somewhere in the $1.5-2m range annually.

“There’s probably a bump in respect of the fact that the first naming rights partner of any new stadium will probably pay a premium because obviously being the first to be named to something, there’ll be a longer halo effect of recall associated with being the first sponsor of a new stadium,” he said.

Dr Hunter Fujak, lecturer in sport management at Deakin University. Picture: Supplied

“We really do see pre-eminent brands try to lock up these naming rights sponsorships because they do achieve a very broad sort of brand exposure.”

Dr Fujak said naming rights partners tended to be consumer-facing businesses.

The University of Tasmania (UTAS) signed its naming rights deal at York Park in 2017.

The university’s chief marketing officer Michelle Weir said UTAS had been “very pleased with the arrangement”, which had “helped strengthen our connection with the community in and around Launceston and increased our interstate and international exposure”.