Procter & Gamble Cashes in on NFL Patriots’ Success
by Christopher Freeburn | November 4, 2013 1:08 pm
[1]Every time the NFL New England Patriots play a home game, millions of TV viewers hear the name Gillette Stadium[2].
Consumer product giant Procter & Gamble (PG[3]) pays $8 million a year to keep the name of its iconic men’s shaving brand on the stadium. It paid $57 billion to buy Gillette about eight years ago, Yahoo Finance notes.
That’s cheap in comparison to other stadium-naming deals. By contrast, Citigroup (C[4]) pays about $20 million a year to slap its name on the stadium of baseball’s New York Mets, while insurer MetLife (MET[5]) shells out $16 million a year to attach its name to the stadium used by New York’s two NFL teams.
While Boston is a small sports market — compared to New York, Los Angeles or Chicago — the track record of the Patriots over the past decade and a half means that more people tune into football games featuring the team. That puts the name of their home stadium in front of a wider range of TV viewers and potential customers.
The Patriots have appeared in five Super Bowls since 2000, winning three of them.
Five years ago, Procter & Gamble sent 20 executives on 300 trips to India with the goal of developing a razor specifically for the Indian market[6].
- [Image]: https://investorplace.com/wp-content/uploads/2013/11/gillette-stadium-logo.png
- hear the name Gillette Stadium: http://finance.yahoo.com/news/procter-gamble-wins-naming-rights-114611481.html
- PG: http://studio-5.financialcontent.com/investplace/quote?Symbol=PG
- C: http://studio-5.financialcontent.com/investplace/quote?Symbol=C
- MET: http://studio-5.financialcontent.com/investplace/quote?Symbol=MET
- developing a razor specifically for the Indian market: https://investorplace.com/2013/10/unusual-way-gillettes-low-cost-razor-came-to-be/
Source URL: https://investorplace.com/2013/11/procter-gamble-cashes-nfl-patriots-success/