InfoCision Gets Naming Rights to New Akron Stadium
How do you finance a $55 million football stadium? Selling branding rights to the building and field helps. When the replacement for the University of Akron's Rubber Bowl opens in two years, it will be known as InfoCision Stadium Summa Field. InfoCision founder Gary Taylor and his wife Karen pledged $10 million over 20 years for the naming rights. Summa Health System will pay $5 million.
But Gary Taylor, who received two degrees from the University of Akron, says the gift is more about helping the school than his company.
Gary Taylor: From an investment standpoint, I think it makes almost zero sense. It was really a way for Karen and I to give back to the University.
Still, every time the Akron Zips are in the news or on TV, the InfoCision name will be right nearby. That's why, he says, he didn't put his own name on the building. Taylor thinks the increased name recognition will help the call-center company recruit better employees.
Selling naming rights at state-run schools is becoming increasingly common. University of Akron athletic director Mack Rhoades says he didn't hear any concern among school officials about the sponsorship deals.
Mack Rhoades: It's a way to help finance a project of this nature.
And, both Rhoades and Taylor believe the new 30,000 seat on-campus stadium with loge seating and private suites, will be a boon to the University of Akron athletic program, and maybe to the sponsoring companies as well.