Nets add Geico to Barclays Center’s rosterAug 6, 2012
Geico has signed on as the latest founding partner of the new Barclays Center in Brooklyn, which opens Sept. 28 with eight sold-out concerts featuring Brooklyn Nets minority owner Jay-Z.
The insurer has a market share of more than 35 percent in Brooklyn and will title sponsor the main entrance and atrium of the new arena, which is about 9,000 square feet. As the entrance closest to the subway stop serving the arena, it will be the main access point for the building.
Cushman & Wakefield
Foxwoods Resort Casino
*Barclays is naming-rights partner but is technically a founding partner.
Source: Brooklyn Nets
Founding partner sponsorships at Barclays Center go for the low seven figures. The team has sold nine deals, beyond Barclays, and is actively selling additional founding partnerships.
Geico ad director Bill Brower said he was intrigued with the atrium the first time he toured the building in March.
“We’re the No. 1 insurer in New York and have really high penetration in Brooklyn, so it’s a great fit,” Brower said. “And we also love being part of the whole Brooklyn revitalization story.”
The company gets exclusivity in the auto and home insurance sectors and will be a major Nets sponsor at the arena. It also will be a principal supporter of the new building’s college basketball schedule, which begins with defending NCAA champion Kentucky taking on Maryland on Nov. 9.
Marketing assets in the deal include permanent basket stanchion signage — owned by State Farm in many NBA arenas — and inclusion in the building’s LED signage.
Horizon Media’s Scout Sports and Entertainment negotiated the deal and is handling activation.
“Outside of the naming rights, this position is the most valuable in the building, since around 70 percent of the building traffic will pass through the Geico Atrium for 200 events a year,” said Dan Parise, associate managing director of Scout.