Does Land Shark Stadium Spell Dangerous Waters?
Last month, the Miami Dolphins and Jimmy Buffett announced a venture that rebrands Dolfin Stadium with the Buffett-licensed Anheuser-Busch beer, LandShark Lager's name. The deal is a one year deal for the 2009-2010 season only, which not coincidentally will include the Pro Bowl and Super Bowl at the stadium. Part of the Dolphins compensation involves Jimmy Buffet playing several free concerts at the stadium, which Terry Lefton reported could amount to $8-10 million of additional revenue for the organization. In today's Miami Herald, Lee Igel offers a decidedly positive outlook based on the strategic interests and brand fit among all three parties to the deal.
Nevertheless, many experts predict that the deal is not long enough to have a real impact and could set a dangerous precedent for the practice of short-term naming rights.
What's your take? Thumbs up or thumbs down on the deal?