• City of Memphis exploring possibility of leasing naming rights of Liberty Bowl to corporation


    MEMPHIS, Tenn. - The Liberty Bowl Memorial Stadium might soon add to its name by having a corporate sponsor.

    The city of Memphis hired a Chicago firm to find out how much a corporation would be willing to spend for the naming rights to the stadium.

    Similar to how the arena where the Memphis Grizzlies play – FedExForum – is tied to a corporation, UofM is exploring the possibility of leasing the naming rights for the Liberty Bowl to the highest bidder.

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    According to the contract between the university and a Chicago marketing firm, the firm will examine fair market value of naming rights – how much the city could negotiate based on such factors as signage, social media and impressions.

    According to a report from the Sports Business Journal, shipping giant FedEx agreed to a 22-year deal worth $90 million for the Grizzlies’ home arena.

    That number would be lower for the University of Memphis because it is not a professional organization.

    The study will begin in about two weeks, and it is expected to be completed in three months.

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