KIDS TRIVIA

Detailed explanation-1: -Naming rights are like a long-term advertisement. You sell a sponsor the right to their name being put on a building, often a sports arena. Then your sponsor’s name could become the next Gillette Stadium or Wells Fargo Center.

Detailed explanation-2: -Naming Rights It is an investment made by larger corporations that want to boost brand recognition to remain relevant and visible in a prominent, well-traveled area. That is why there are a growing number of stadiums named after prominent corporations.

Detailed explanation-3: -A different event might designate its top sponsors as corporate partners. In fact, the term partner is frequently used to describe the relationship between a sponsor and a sport/event entity. The two are basically a brand extension of each other.

Detailed explanation-4: -Bidding war. When two or more companies try to outbid the other for something, such as a sponsorship opportunity.