Ravens complete deal to name stadium PSINet

Northern Va. company to be `presenting sponsor'

January 25, 1999|By FROM STAFF REPORTS

This week, the Ravens are expected to announce that their stadium has a name, PSINet Stadium.

The Northern Virginia-based Internet service provider and the Ravens completed a deal on Friday that will make the company a "presenting sponsor," deeply involved in many aspects of the team's public face, according to a source familiar with the negotiations.

The deal was reported in most of yesterday's editions of The Sun.

Look for a new, jazzy Ravens World Wide Web site on the Internet and prominent lettering on the brick stadium.

The team paid the Maryland Stadium Authority $10 million for the right to sell the name of the stadium to a corporate sponsor. The price PSINet will pay was not immediately known, but the team had been seeking more than $3 million a year for a multi-year deal, according to one source.

PSINet fits the profile of high-technology companies that have shown interest in such high-profile marketing deals. With this deal, it will raise its name recognition nationwide. Its name will be mentioned in NFL game broadcasts, and its logotype will likely become a fixture in downtown Baltimore.

The company, whose name appeared on rotating signs inside the stadium midway through the season, has invested heavily in Internet lines to service business clients around the world, with an emphasis on the lucrative Washington-to-New York corridor. The firm provides customers with a range of Internet services, from Internet hookups to specialized Web pages and secure mechanisms for customers to purchase products online.

Other stadiums that have acquired high-tech sponsors in recent years are Ericsson Stadium in Charlotte, N.C., 3Com Park in San Francisco, Qualcomm Stadium in San Diego and Alltel Stadium in Jacksonville, Fla.

Pub Date: 1/25/99

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