The Principality Stadium

First topic message reminder :

The Millennium Stadium will be renamed the Principality Stadium in a 10-year sponsorship deal with the Cardiff-based building society.

http://www.bbc.co.uk/sport/0/wales/34187065

I'm less worried about the figure (although it does seem low) and slightly more worried about the message it sends to have the jewel in our crown named the 'Principality'!

I get we all know who they are in Wales, and the rest of the UK, but internationally it might be regarded as a political decision, especially with Northern Irish powers on the brink of being passed back to Westminster.

Avilva paid 500 million Euros for 10 year deal at Landsdowne.

BigTrevsbigmac wrote:Avilva paid 500 million Euros for 10 year deal at Landsdowne.

500 million?

I think you'll find you're a few million out on that figure Big Trev. The true figure is E580Million.

Seems a strange choice of name. The attempt to tie in the building society name with our historical former constitutional nature. But we haven't been a Principality for about 5 centuries. Get with the times, man.

Or maybe they wanted a welsh company to be the sponsor.

Apparently so, Mikey. Roger said something about it being a perfect match because it's a Welsh company and its structure is similar to the WRU's structure.

What a load of garbage.

Well maybe it is/isn't garbage, but I bet there was also a hand-out passed under the table from the palm of Graeme Yorston to Roger Lewis...

Oh he'll have done nicely out of it, no question.

Here's what he said:

"This is a landmark day for Welsh rugby and a celebration of our association with Principality Building Society.It’s the result of over 10 months of detailed negotiation, based upon the naming rights search which we launched a number of years ago. The fit with Principality Building Society is perfect. We have had an association with them for a number of years in a range of rugby ways, not least their sponsorship of the Premiership division. It’s the perfect fit for Wales. They are Wales’ largest building society, formed in 1860. They are committed to supporting the communities of Wales with over 50 branches employing 1000 staff across the nation. Most importantly, it’s a business model that is similar to that of the WRU. The Principality is a mutual organisation which means it is owned by its 500,000 members, ie those who hold accounts. The WRU, in turn, is owned by our 340 member clubs. As such, I can think of no better fit for the stadium than the Principality Building Society. Together we wear the red of our nation with pride."

I'd have thought the most important thing would be the amount of money on offer, but that's just me.

SecretFly wrote:I think you'll find you're a few million out on that figure Big Trev.  The true figure is E580Million.

According to Irish Times at the time it was €44 million which sounds more like it. I cannot imagine any company paying €58 million a year to name a stadium. That probably work out at something like €5 million per match!

http://www.irishtimes.com/sport/rugby/lansdowne-to-be-renamed-aviva-stadium-1.1225869

mikey_dragon wrote:Well maybe it is/isn't garbage, but I bet there was also a hand-out passed under the table from the palm of Graeme Yorston to Roger Lewis...

Exactly how libelous do you want to be?

I read on the internet that HERSH payed the WRU 580 million Euro to take them as a sponsor just to troll you lot.

Gwlad wrote:

mikey_dragon wrote:Well maybe it is/isn't garbage, but I bet there was also a hand-out passed under the table from the palm of Graeme Yorston to Roger Lewis...

Exactly how libelous do you want to be?

I'm always amazed at some of the stuff that is censored on here, then things like that are just let go.

Exiledinborders wrote:

SecretFly wrote:I think you'll find you're a few million out on that figure Big Trev.  The true figure is E580Million.

According to Irish Times at the time it was €44 million which sounds more like it. I cannot imagine any company paying €58 million a year to name a stadium.  That probably work out at something like €5 million per match!

http://www.irishtimes.com/sport/rugby/lansdowne-to-be-renamed-aviva-stadium-1.1225869

€582 Million is the exact figure. And I know it because I know very well one of the IRFU blazers. Fantastic negotiation because you're right, the cover story price (€44) sounds much more like a genuine Market price.....

Gwlad wrote:

mikey_dragon wrote:Well maybe it is/isn't garbage, but I bet there was also a hand-out passed under the table from the palm of Graeme Yorston to Roger Lewis...

Exactly how libelous do you want to be?

Reads like fair comment to me.

Just a couple of things on the Aviva sponsorship.

1. It was in 2009, prior to the economic downturn.
2. It was a new stadium so would have that initial spike of interest.
3. There were many conditions, including that all games involving Ireland had to be played there (and hence why Ravenhill or Thomond Park are not allowed host capped internationals - only Babas etc).
4. As far as I recall, the payment was to be phased over 10 years - so the rights were sold onto some investment company for 24m euro upfront.

Yes...with the final €558 million to be paid in yearly instalments. Correct Sin. Spot on.

Gooseberry wrote:

Gwlad wrote:

mikey_dragon wrote:Well maybe it is/isn't garbage, but I bet there was also a hand-out passed under the table from the palm of Graeme Yorston to Roger Lewis...

Exactly how libelous do you want to be?

Reads like fair comment to me.

Thinking more plum than gooseberry