November 4th, 2013
Procter & Gamble Wins with Naming Rights to New England Patriots Stadium
By Douglas A. McIntyre
247 Wall St.com
The New England Patriots have become “America’s Team,” a position that belonged to the Dallas Cowboys for years. Patriots games are among the greatest shows on earth, with quarterback Tom Brady slinging passes up and down the field on the way to the Football Hall of Fame.
Recently, the Patriots beat the Pittsburgh Steelers 55 to 31, a record number of points ever allowed by the Steelers. The game was played in Gillette Stadium, named for a brand Procter & Gamble Co. (NYSE: PG) bought in 2005 for $57 billion. These naming rights may be the most effective marketing arrangement the deeply troubled consumer products company has.