Early in his tenure as CEO of the Miami Marlins, Derek Jeter is making it known that naming rights to Marlins Park could be up for grabs.
Jeter and the Marlins new ownership group, led by venture capitalist Bruce Sherman, are looking to boost the team’s fortunes both on and off the field. In looking specifically at the business operations, Jeter says the organization is focusing on several priorities, including creating stronger corporate partnerships and improving ticket sales and attendance numbers.
There are other areas, however, where the Marlins are expected to focus their efforts to improve revenues. One of those is the naming rights to Marlins Park, which Jeter indicated that he and the organization intend to sell. More from The Sun-Sentinel:
“There are some financial things we have to get in order,” Jeter said. “That’s the bottom line.”
How, exactly, the Marlins will make more money is unclear, and Jeter admitted as much while speaking outside the Waldorf Astoria luxury hotel, where he is representing the Marlins through Thursday at the league’s quarterly owners’ meetings.
One eventual source of additional revenue is selling the naming rights to Marlins Park, which Jeter said he intends to do. And in three years, the Marlins’ TV deal with Fox Sports Florida, which at $20 million per year is well below even what other small-market teams get for the rights to broadcast their games, will expire. That will be another opportunity for improvement.
Marlins Park originally opened in 2012, and is one just a handful of Major League Baseball facilities that’s name is not attached to a corporate naming rights agreement. The new ownership group was unanimously approved by MLB owners in September, clearing the way for it to purchase the franchise from Jeffrey Loria.