Completed in 1976, Giants Stadium, in northern New Jersey's Meadowlands, is home to both the New York Giants and New York Jets of the National Football League. The stadium is also home to the Metrostars of Major League Soccer. It is one of a handful of professional sports venues not to be named for a corporation. Or is it?
Paul Brown Stadium in Cincinnati, Dodger Stadium in Los Angeles, Soldier Field in Chicago, Yankee Stadium in New York and Coors Field(named for Pete Coors) in Denver are a few stadiums that have resisted the naming rights temptation.
Some find it strange that the largest city (OK, near the largest city) and metropolitan area in the country would have a football stadium not take advantage of corporate dollars.
Word began to circulate yesterday that the stadium's owner, New Jersey Sports and Exposition Authority, indeed was collecting "extra" revenue from the stadium.
"The amount [of money] coming in was not matching up with the number of events being held at the stadium," said New Jersey state attorney, Joshua Gillent. "Not even $65 parking could raise the numbers that high."
Apparently, under the radar, Giants Stadium went corporate six years ago.
"We wanted to keep with tradition and use the name Giants Stadium. But it was too difficult to turn down another source of revenue. I had to find a way around this," said NJSEA official, William Norwood.
Norwood admitted that he contacted Giant Food Stores, LLC, a supermarket chain headquartered in Carlisle,PA, about a possible naming rights contract. Norwood and Giant Foods soon reached a fifteen-year agreement for $7.5 million. The deal was signed in 2002 and included a clause permitting the venue to keep the 's' in the name.
Giant Food officials wanted the stadium's new name to be Giant Food Stores, LLC Stadium. However, Norwood convinced the growing supermarket chain that keeping the name Giants Stadium would better serve Giant Foods.
"We got duped. I'll admit it," said and anonymous Giant Foods executive.
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