As we (hopefully) exit the worst of the recent financial crisis, two of the three entities that have the naming rights to Philadelphia sports venues (Citizens Bank, Wachovia, Lincoln Financial Group) have emerged relatively unscathed. The third, Wachovia, was purchased by Wells Fargo during 2008. Wachovia Center will be undergoing a name change to Wells Fargo Center during this summer, with the changes completed by the beginning of the 76ers and Flyers’ seasons. Now, WSJ reports that LFG could be up for sale. The report speculates that Sun Life is a possible purchaser.
If it purchased LFG, Sun Life, a newcomer to sports sponsorship, would suddenly hold naming rights to two NFL stadiums: Sun Life Stadium, home of the Miami Dolphins, and Lincoln Financial Field, home of the Philadelphia Eagles. One wonders if Sun Life desires such a prominent sports sponsorship portfolio after just entering the field.
With LFG on the market, it looks as if the Philadelphia sports complex, which has not experienced a name change in approximately seven years, could be in for a year of change.
