 The insurance company MetLife has signed on to fill one of the four “corner sponsors†for the New York Jets and New York Giants new stadium. The contract will cost MetLife $8 million per year. As reported by the New York Post:  With MetLife onboard, the new stadium, which is expected to be game-ready in 2010, only has four sponsorships left – the remaining three “corner,†or entranceway, sponsors and the overall “title,†or stadium, sponsor.
 According to sources close to the situation, the rest of the sponsorships are expected to be announced sometime soon.  The owners of the stadium believe that limiting the number of sponsorships will create a “scarcity-value premiumâ€. It is expected that the four corner sponsorships will bring in more than $30 million a year, while the title sponsorship could generate in excess of $800 million. Each contract is estimated to run for approximately 20 years.            “It’s the [National Football League], it’s two teams not one, and it’s the media capital of the world,†said one source of the recognition inherent in sponsoring the new stadium. Â
“They’ll own that spot and completely immerse themselves in it,†said [another] source, noting that MetLife has the right to brand such things as escalators and video screens, and even erect interactive displays within its section.
 The Wasserman Media Group is the negotiating partner working on the sponsorship deals on the Jets and Giants behalf.
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Nick Kappel is a staff member for the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He can be contacted through the Business of Sports Network's Author Profiles Â
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