World News – US – Ball Corp And Kroenke Sports Launch Expanded Partnership Including Denver Arena Naming Rights

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Rising Nuggets star Jamal Murray’s home receives new name as Denver’s Pepsi Center is renamed Ball Arena

Hometown Denver Arena Gets New Name The Pepsi Center is out; Ball Arena is the new home of the Denver Nuggets and Colorado Avalanche, in an agreement announced today between Kroenke Sports & Entertainment – owner of the teams and arena – and Denver-based Ball Corp , which manufactures 50% of aluminum cans in North America

The brand is a chance to reintroduce the 140-year-old company to the world and widely launch its new recyclable aluminum cup Ball, the first consumer product in over 25 years The partnership extends well to beyond Denver and will operate KSE’s comprehensive global collection of sports properties, which also includes the Los Angeles Rams of the NFL and Arsenal F of the Premier LeagueC, as well as their respective homes, SoFi Stadium and the Emirates Stadium, as well as the Colorado Rapids (MLS) and Colorado Mammoth (NLL)

« If you can make a deal with one property for naming rights and have access to all the different properties of an owner like Kroenke, that’s an absolute crush, » says Jason Miller, Manager properties at Excel Sports Management KSE landed # 1 last year in the Forbes ranking of the world’s most valuable sports empires

« We want to get the word out about recycling and say there is an alternative to plastic, » says Ball CEO John Hayes, who has managed the $ 11 billion business since 2011. are the perfect partner and they are in our hometown « 

Hayes says he wants to raise US aluminum cans recycling rate – currently around 50% – to a figure closer to the global mark of 69%

Ball showcased their new aluminum cups on a limited basis last year at the former Pepsi Center, Hard Rock Stadium in Miami, and Mercedes-Benz Stadium in Atlanta.The cups are currently available on Amazon where a 30 pack sells for $ 25 But Ball is taking inspiration from the sustainability trend and plans a massive rollout in 2021 to all retailers once its new $ 200 million manufacturing facility in Rome, Ga. operational, which will increase the annual production of cups from two to 500 million

Kroenke Halls in Denver, Los Angeles, and London Offer Huge Ballroom Platform The Denver Arena hosts over 200 events a year, while SoFi is set to host Super Bowl 2022, the national championship of 2023 college football qualifiers, the 2026 FIFA World Cup and the 2028 Summer Olympics Arsenal Emirates Stadium is England’s fourth largest football stadium The venues will transition over the next two years so that all cold drinks are served in aluminum cups, bottles and cans

Ball market research found the global disposable plastic cup market to be $ 93 billion per year, with 25% of the total in the U.S. Hayes says Ball wants to replace the ubiquitous Solo plastic cup, which, according to him, is not recyclable

Company has played a role, fueled by global demand for beverage cans Ball’s share price is up 44% year-to-date, crushing S&P’s 7% return 500 Its current market value is $ 30 billion

The vast majority of naming rights partners already have a strong presence in this market, usually via a head office Ball does the trick, having moved its offices to Colorado in 1998 « You really can’t look or justify a naming rights deal only on marketing and brand visibility, « says Miller » There needs to be consensus among executives on how this can help you recruit, retain and energize your employee base « 

No terms of the long-term deal have been released, but Hayes says there are built-in protections for Ball if the coronavirus continues to keep fans out of the venue in 2021 Forbes believes the rights component of deal’s name is worth around $ 6 million a year Pepsi had its name on the building when it opened in 1999 as part of an initial 20-year contract worth $ 68 million Kroenke landed one of the largest naming rights deals in the world last year when Social Finance agreed to pay $ 400 million over 20 years to mark Kroenke’s new $ 5 billion sanctuary in Los Angeles, the SoFi Stadium

Hayes says KSE will benefit financially if it succeeds in converting other sports venues to plastic-free use, saying, « This is an economic partnership whereby when we win, they win »

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I’m an editor at Forbes and focus primarily on the sports industry and our annual franchise reviews I also spend a lot of time researching what athletes are

I am the editor at Forbes and focus primarily on the sports industry and our annual franchise reviews I also spend a lot of time digging into what athletes earn on and off the playing field I profiled a group of athletes with one name: LeBron, Shaq, Danica and others. I also started our biennial B-School ranking; annual reports on Best Places for Business (subways, states and countries); and the best American banks I joined Forbes in 1998 after working for 3 years at Financial World magazine Email: kbadenhausen @ forbescom

Kroenke Sports & Entertainment, Pepsi Center, Ball Corporation, Denver Nuggets, Stan Kroenke, Colorado Avalanche, Colorado Mammoth

World News – United States – Ball Corp And Kroenke Sports Launch an expanded partnership including the naming rights of Denver Arena



SOURCE: https://www.w24news.com/news/world-news-us-ball-corp-and-kroenke-sports-launch-expanded-partnership-including-denver-arena-naming-rights/?remotepost=451044

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