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Transportation Funding & Financing

Naming Rights

Naming rights arrangements involve the selling of the rights to name such public facilities as toll roads. Naming rights have been sold predominantly for sports stadiums, where they generally generate annual revenue in the $1-2 million range, but they have also been used to name performance centers and malls. And more recently, government officials and business representatives concerned about funding shortfalls for transportation have begun to focus on the potential application of naming rights to highway corridors, toll plazas, and concession areas.

As a type of contractually obligated income, naming rights are attractive to transportation service and infrastructure providers for their stability and predictability. These attributes also make naming rights a revenue source that is well-suited for debt service. Although the revenue potential from naming rights is likely insufficient to fund capital investment, it could be used to support a portion of a facility's operations and maintenance expenses.

One recent example is Miami-Dade Transit that has recently hired a consultant to design and implement a naming rights agreement program for its Metromover system. MDT is exploring selling the naming rights of Metromover stations to subsidize the cost of beautifying and maintaining Mover stations.