When Bank of Hawaii announced it was ponying up $5 million to put “SimpliFi Arena by Bank of Hawaii at Stan Sheriff Center” on the front of the University of Hawaii’s campus arena it broke considerable ground and raised some quick questions.
Did UH charge by the letter?
And, what might the new Aloha Stadium, or other facilities, command for their naming rights?
The 10-year deal for SimpliFi Arena at Stan Sheriff Center — the “short” version — was the biggest payout by a business for naming rights at a sports facility in the state, doubling what Hawaiian Airlines paid in 2011 to put its name on the field at Aloha Stadium for five years.
The hope is that the Sheriff Center deal won’t be the last of its kind.
Peter Ho, CEO of BOH said, “I think that sports is a big thing in this town and UH athletics is big. I actually think by doing these naming deals and helping the university we just help everything and everybody. I’d love to see more of it. So, hopefully, the idea is there is going to be a new stadium at some point (and), I’d love to see that named as well.”
Ho said, “The (corporations) are the ones with money in this town and if they can step up and help I think that is a good thing.”
Some of UH’s Mountain West Conference brethren have scored well in naming rights to the football stadiums they either own or operate. Colorado State landed a $37.7 million deal over 15 years with the Canvas Credit Union in 2018. San Jose State got $8.7 million over 15 years from Citizens Equity First Credit Union in 2016 and Boise State in 2014 began collecting on $12.5 million deal over 15 years with the Albertsons grocery chain.
In the last session of the state Legislature, Rep. Gene Ward (R, Hawaii Kai-Kalama Valley) sought to include a provision so that the Aloha Stadium Authority, “May seek entities to purchase the right to name the stadium and its facilities within the (New Aloha Stadium Entertainment) District.”
How much the state can get is anybody’s guess but, as Ward put it, “You don’t know if you don’t ask.”
Ward’s proposal didn’t pass, but it is likely to come up again before NASED’s projected 2023 opening, for which the state is putting up $350 million in austere, COVID-19 impacted times.
And, UH, facing the prospect of an $8.9 million athletic deficit in the current fiscal year due to its own pandemic challenges, is also in a position to do some asking.
UH was relatively slow in coming around to the concept of selling naming rights to businesses after years of primarily putting individuals names — Les Murakami Stadium and Duke Kahanamoku Aquatic Complex for example — on its facilities.
Not until 2008, when the Clarence T. C. Ching Foundation paid $5 million to put the name of the former real estate developer and philanthropist on the renovation and expansion of the former Cooke Field, did UH really take much to the bank on the concept.
In 2014 then-athletic director Ben Jay proposed a “donor recognition naming opportunity” program, putting just about everything on sale. A head coach’s office was on offer ($100,000) and so was the pole vault area ($50,000) all for 10-year terms. For lesser amounts you could put a name on an umpire’s dressing room ($25,000) or even an individual locker ($5,000).
There were few takers.
Hopefully, this latest, biggest deal will lead to better returns.
Reach Ferd Lewis at flewis@staradvertiser.com or 529-4820.