April 28th, 2011
Overstock pays $7.2M for naming rights to Oakland coliseum
The Salt Lake Tribune
Updated Apr 27, 2011 11:09PM
Overstock.com Inc., the Utah-based online discount retailer, said Wednesday it paid $7.2 million to acquire the naming rights to the Oakland-Alameda County Coliseum for the next six years.
The stadium is the home to both the NFL Oakland Raiders and major league baseball’s Oakland Athletics.
“This is one of only two stadiums in the country hosting two major league teams,” said Jonathan Johnson, president of Overstock. “With two teams playing there, it should give us a fair amount of national attention.”
Naming rights to the stadium, which seats approximately 60,000 when configured for football and around 40,000 for baseball, was previously held by the McAfee Inc. under a 10-year deal that expired in 2008, said Deena McClain, the interim executive director of the Oakland-Alameda County Coliseum Authority.
McAfee is a software company best known for its anti-virus computer products.
“We hired someone two years ago to find another company interested in the naming rights,” she said, indicating that the lean years of the recession made finding someone a difficult task. “These things can take time, but we now have a great partner in Overstock.com.”
As part of the new alliance, Overstock receives branding opportunities through stadium signage, internet, television, radio and print promotion. The deal is effective immediately, with the facility hosting its first game under the new name when the Oakland A’s play the defending American League champion Texas Rangers on Friday.