Bracebridge council investigates sponsorship rights for community assets
Naming rights for community properties are potentially worth millions
BRACEBRIDGE — The Town of Bracebridge is investigating selling naming rights for the Sportplex and the yet-to-be-built arena/community centre complex. Council has tentatively approved engaging a third party company, Performance Sponsorship Group, to explore the town’s assets and possibly engage in promotional contracts that would net revenue to the town and the facilities specifically.
The possibility of the arrangement was brought up at last week’s general committee meeting, receiving approval from councillors, and will go before this week’s full council on Wednesday, Nov, 6.
Recreation Director Cindy O’Regan confirmed talks had taken place with Performance Sponsorship Group. “We understand there is some value to our properties from a sponsorship perspective so we are moving to the next stage,” she said. Judy Haber is the owner of Performance Sponsorship Group, a company with offices in Orangeville and Florida. She has brokered many deals for smaller communities that have helped pay millions of dollars in revenue.
“This is the first-ever naming rights initiative undertaken by the City, and we sincerely thank (Sponsor) Gary Moe Auto Group, as the newest business in the community, for their generous investment to help offset the capital costs for this project,” said MacQuarrie. “This is a smart investment for all concerned, as it refreshes an older but sound structure, which promotes sustainability and resource conservation.”Haber points out one of the upsides to her deals is she typically gets the money up front. This comes with added benefits when a building is still at the planning stage Haber said.It really puts us in the driver’s seat,” she explained. “In terms of having the sponsors be involved in the design. Often sponsors want colours integrated or messaging and story-telling. And that’s all going to be part of the package.”In assessing the value of such assets Haber said hiring an outside company provides a more honest view of what is available. She said it is like selling your own house, in that you may not see the flaws others might and thus a valuation may be too high.“It is about managing expectations,” she said of the asset pricing process.
Assets range for the big ticket item such as a corporate name or logo on the side of an arena or community centre, down to snack bars, seating areas and locker rooms.
The Bracebridge arena/community centre complex is planned to have many aspects, from a rink, to field house facilities and a library. Coupled with the popular Sportsplex, which is attached to Bracebridge Muskoka Lakes Secondary School, that would provide many potential eyeballs for sponsors over a multi-year period. Haber said signing the agreement is the first step and then she will begin to list and attach value to the many assets.
“You’ve got to be out of the gate as early as possible,” she said. In September, the town retained MacLennan Jaunkalns Miller Architects to lead the design and construction contract administration of the new centre.
“While infrastructure like this takes time to complete, to finally see the multi-use community centre take this next step is a testament to all of the hard work put in (by various stakeholders) throughout the years,” said Mayor Graydon Smith in a recent release about the new complex.
Corporate Naming Rights
Performance Sponsorship Group (PSG) specializes in the design and sales of corporate partnerships in North America with an unwavering commitment to integrity, professionalism and results. PSG succeeds in markets as small as 500 people to major urban centres.
Performance Sponsorship Group
- Extensive experience in the North American sponsorship industry, with full-service access to a network of specialists.
- Unparalleled client service, characterized by professionalism and integrity.
- Innovative creative sponsorship design and pragmatic valuation analysis.
- Access to corporate decision makers; proven sales record in Canada and the United States.