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The Colts Influence
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Indiana Farm Bureau sponsoring Colts facility August 18, 2008 Indiana Farm Bureau President Don Villwock and Indianapolis Colts owner Jim Irsay exchanged pleasantries Monday before a banner you'll see whenever any Colt gives an interview. IBJ staff Officials of the Indianapolis Colts and Indiana Farm Bureau Insurance today announced that they have agreed to a multi-year deal to put the insurer's name on the team's 56th Street training complex renaming it the Indiana Farm Bureau Football Center. The complex on the city's northwest side had previously been called the Union Federal Football Center. Terms were not released, but the Colts signed a similar deal in 2000 with Union Federal Bank that team sources said at the time was worth $1 million annually. After acquiring Union Federal in 2006, Ohio-based Sky Financial Group Inc. ended the naming rights deal, and the facility reverted to its original name, Indianapolis Colts Training Facility. The team signed a 20-year, $121.5 million naming right deal with California-based Lucas Oil Products Inc. for its new stadium. While sports marketers don't expect the training facility deal to come near the value of the stadium deal, they said it could be worth as much as $1.5 million annually, which would make Indiana Farm Bureau one of the team's top five sponsors. Colts owner Jim Irsay said the team is continuing to expand the headquarters, such as adding office space and a pool to help with treatment of some player injuries. Irsay said the Colts continued to consider whether to move their training camp to the Indianapolis complex, but that parking for fans would be a problem. We couldn't be more excited to be here with this partnership,'' Irsay said. "We gather here. This is the epicenter. This is where it all happens.'' The Colts in the spring signed a multiyear deal to keep their training camp at Rose-Hulman Institute of Technology in Terre Haute. Citing logistical problems, primarily the daily crowds and parking accommodations, owner Jim Irsay said it would be difficult to move the three-week camp to the team's home city "the way things are designed right now.'' "I would never rule out the possibility of coming here,'' Irsay said Monday. "But we would have to solve those problems and right now we haven't been able to get past those issues. "They're not insurmountable, but it would take a major change in terms of trying to reorganize some things to get that done.'' The Colts signed a multiyear contract with Rose-Hulman Institute of Technology in Terre Haute earlier this summer, but it's basically a year-to-year deal. The team has trained at the school since 1999, and Irsay said the location "works.'' But he added that Anderson has shown a lot of interest in having the Colts return to Anderson University, which hosted Colts camp from 1984-98. The team is in the process of major renovations at its Indy headquarters. It is retooling the main lobby and expanding office space. Until his office is finished, Irsay is working out of a trailer on a back parking lot. Previous work included upgrading office space for coaches and the personnel staff as well as the training room. A pool is also being added for specific treatment for injured players.
Only in
this sports-crazed culture will one company pay to put its name on
the headquarters of another. The $121.5 million Lucas Oil agreed to pay over 20 years is well known, but the Colts have been mum about how much the team will make from the 14 other such deals. Tom Zupancic, the team's point man on the deals, did say it equals two to three times the annual revenue of the Lucas Oil deal -- or a total of $18.2 million to $24.3 million.
Just how
good is the market?
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