The Lincoln Financial Group has joined a small, but growing, coterie of corporate sponsors of local football, baseball and basketball clubs with the announcement that the new home of the NFL’s Philadelphia Eagles will be named “Lincoln Financial Field.”
“Under terms of the agreement, Lincoln Financial Group will invest $139.6 million over the next 20 years, through annual payments averaging approximately $6.7 million,” said the announcement. The company undertook the project to raise brand awareness, and it will also participate in other marketing and community activities related to the Eagles.
The new stadium is scheduled to open in August 2003 for the Eagles football season. The announcement described it as “a state-of-the-art sports and entertainment venue that is destined to become the premier football stadium in the United States.” It’s being built at a cost of $355 million, financed “through a public/private partnership and is primarily by the Philadelphia Eagles ownership.”
One can only hope that the Eagles will derive greater benefits from Lincoln’s support than baseball’s Houston Astros did from Enron.
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