With university and colleges facing continuous budget cuts, many are looking to commercial companies for money through naming rights. A recent article about Florida Atlantic University and naming rights to its football stadium sparked my interest. The company, GEO Group, is a for-profit prison group. After a number of protests, Florida Atlantic withdrew the naming rights despite a $6 million gift from the company.
- Typically, naming rights go to alumni or individuals who donate money to a university. What are your thoughts about naming rights for brands and companies?
- Should public universities seek money from commercial companies? What about private universities?
- Does it make a difference on the type of brand or company in terms of granting naming rights?
- While football stadiums are the most common form of naming rights, what about naming buildings, programs, and even rooms after a brand or company?