(from Sports Business Journal, March 4, 2013) Starting June 1, the Los Angeles Galaxy and Chivas USA soccer teams will no longer call their home the Home Depot Center. The multisport complex owner, AEG Global Partnerships, signed over the complex’s naming rights to StubHub, the leading online ticket reseller. Although exact terms have yet to be announced, sources are estimating a 6 year deal, valued at over $10 million per year.
This naming rights agreement came shortly behind the announcement made last November that StubHub is the official ticket reseller for all AEG venues. Shervin Mirhashemi, President of AEG, commented, “I don’t think many people realize that StubHub is one of the largest sponsors in sports and entertainment.” After the ticketing agreement, StubHub became the obvious choice to AEG for taking over Home Depot’s naming rights. Mirhashemi expressed his confidence in the deal saying, “We wouldn’t have gone with StubHub unless we felt they were a trusted brand in the consumers’ eyes. It was a natural fit.”
StubHub’s Global Head of Partnerships and Business Development, Danielle Maged, explains the deal as a huge success stating, “This is the exclamation point on the efforts we’ve made over the last 10 years to basically weave ourselves into the fabric of the sports and entertainment industry.” This deal adds StubHub’s first partnership with an MLS team to their wide array of deals with MLB, ESPN, clubs in the NFL, NHL, and NBA, as well as Barclays Premier League teams. It will also open connection to the Spanish-speaking market with the Chivas USA games. With regards to how the company with activate the deal, Maged shared that they hired CAA Sports Consulting to help develop ideas for the venue. Without sharing details, Maged was able to comment on the activation saying, “We’re going to have something that’s organic and changes in the venue itself with a focus on the fan. We are all about the fan, so whatever we do is going to be compelling.”