Hartford Business Journal

14 Hartford Business Journal • June 22, 2015 www.HartfordBusiness.com from page 1 and filter down the ones we will pursue," Man- chester said. Dunkin's decision to pay for the naming rights to the $60 million downtown Hartford minor league stadium centered around affirm- ing its position in an important New England market and setting itself apart from its competi- tion in the area, particularly other coffee shops, Manchester said. The company has 400 loca- tions in Connecticut owned by 52 franchisees. Fenway Sports Management recom- mended Dunkin' pur- sue the Yard Goats sponsorship because it will make the res- taurant chain a leader in downtown Hartford's redevelop- ment, as the stadium is a signature part of that revival, said Mark Lev, managing director for Fenway Sports Management. Dunkin' also will benefit from the stadium's visibility along I-84 and I-91, he said. "The park is part of a renaissance for downtown Hartford and will be a beacon for the state of Connecticut," Lev said. "Dunkin' taking a leadership role in sponsoring the ballpark positions it as helping serve the growth of the downtown." The Hartford Yard Goats, which is relocating from New Britain, will play its first of 71 annual home games at Dunkin' Donuts Park in April. Because Dunkin' has a history of sup- porting sports franchises — the company is a sponsor of UConn athletics, as well as 41 professional sports teams globally includ- ing 10 in Boston and New York City — tak- ing on the naming rights to the Yard Goats' stadium seemed like a logical way to show its force in the Hartford market, Manchester said. It will be the first outdoor stadium to bear the Dunkin' Donuts name, although the company does have the naming rights to the Providence, R.I. civic center. The exact value of the Yard Goats/Dunkin' deal is confidential, but Yard Goats owner Josh Solomon said the city will receive at least a $225,000 cut annually, regardless of the agreement's actual value. Sponsorship deals At a time when corporate sponsors are re-upping their commitments to many of Con- necticut's major sporting events, each company determines the return on investment (ROI) differently but largely bases their decisions on the impact to brand awareness, commu- nity giving, market fit to their core custom- ers, and client and employee entertain- ment potential. "Corporate part- ners are definitely more savvy than they were before. They want that ROI," said Nathan Grube, director for the Travelers Championship PGA golf tourna- ment in Cromwell, which starts June 22. Having signature sponsors like Dunkin' sign on for multi-year deals is important to helping Connecticut sporting events raise enough corporate support, said Anne Worces- ter, tournament director for New Haven's wom- en's tennis tournament, the Connecticut Open presented by United Technologies Corp. The Connecticut Open must raise $3 million each year from corporate sponsorships, Worces- ter said, and having a multi-year title sponsor helps the tournament convince other potential partners that the event is stable, growing and provides a significant ROI. Plus, title sponsor- ships almost always have the highest value. "It is always easier when you have a title sponsor or a lead sponsor," Worcester said. Hartford-based UTC, which became Con- necticut Open's title sponsor last year, recent- ly extended its deal through 2017. Hartford insurer Travelers this year started a new 10-year agreement with the PGA tournament in Cromwell that, when complete, will make the company the lon- gest serving title sponsor in the event's 72-year history. Travelers, which on June 16 also became the second corporate sponsor of the Yard Goats, considers the main ROI from its sports sponsorships to be the charitable donations these organization make as well as the com- munity support each event yields, said Andy Bessette, executive vice president and chief administrative officer for Travelers. "This event is so important to this region. It is great for community pride, and it is great for our brand," said Bessette. Measuring return When helping companies decide to spon- sor events, Fenway Sports Management will look at both the tangible and intangible return on investment, said Lev. Metrics like event attendance, television audience, and signage exposure all can be easily measured, but deter- mining how an event's community impact and charitable giving directly impact a company's bottom line is much more difficult. Companies all determine their ROI different- ly, Lev said, based on their own cultures and pri- orities. Some want brand awareness while oth- ers are more concerned with their philanthropic legacy. Events also provide sponsors with ven- ues to entertain clients and provide rewards and volunteer opportunities for employees. Hartford/Boston utility parent Eversource Energy this October enters into the second year of a three-year deal as title sponsor of the Hartford Marathon. This year will be the first Eversource Hartford Marathon following the company's February rebranding from its old name, Northeast Utilities. "It is a huge significant event for the state that we like to support," said Eversource spokeswoman Tricia Taskey Modifica. UTC's Connecticut Open sponsorship is less about brand awareness since the aero- space and building systems conglomerate has few consumer-oriented products, said Peter Holland, UTC vice president for state government relations. Instead the company's focus is on community support toward mili- tary personnel and their families. Corporate sponsors of the Connecticut Open still want to know metrics like atten- dance, media impressions and economic impact, Worcester said, but the less tangible charitable aspect is playing a greater role. The tournament, which starts Aug. 21, registered as a nonprofit for the first time last year. "More and more of our sponsorship pitches center around what the tournament is doing for the community," Worcester said. Specific charitable opportunities give sport- ing events more chances to sell corporate spon- sors, said Grube, who has secured 350 sponsor- ships for the Travelers Championship. It also encourages sponsors to spend more, he said. When the Travelers Championship expand- ed its military appreciation events, St. Francis Hospital and Medical Center signed on as the main sponsor. While St. Francis already was a golf tournament partner — providing medical services — the military appreciation angle grew the hospital's investment, Grube said. "Companies are willing to spend more if we find the right product for them," Grube said. More deals to come After Dunkin' Donuts and Travelers announced their sponsorship deals with the Yard Goats, Solomon, the team owner, said he expects sponsorship interest to build for the minor league ballclub. "We are looking at companies in the Greater Hartford area," Solomon said. "That is our focus." The Yard Goats will need those sponsor- ships to hit its estimated revenue numbers. A Hartford-commissioned study said the team should bring in about $2.2 million in total cor- porate support, accounting for 27 percent of its total revenue. Solomon has not confirmed the accuracy of those estimates. "The corporate community has been very supportive of what we are doing," Solomon said. "They feel like we will be very positive for Hartford." n Red Sox: Hartford good for Dunkin' Andy Bessette, executive vice president and chief administrative officer, Travelers Nathan Grube, director, Travelers Championship PGA golf tournament (Clockwise from upper left) Connecticut Open tennis players James Blake (left) and Andy Roddick partici- pate in sponsor Yale New Haven Health System's tent activities; as title sponsor, United Technologies has the most prominent place- ment on the Connecticut Open court, where tennis player Petra Kvitova was playing; Aetna sponsors a Connecticut Open FitZone, which holds a Kids Day; minor league baseball team owner Josh Solomon is moving the New Britain Rock Cats to Hartford for the increased visibility, access to corporations, and larger fan base; and spon- sors at the Travelers Championship can get their name on offerings such as the concert series, viewing galleries, fan zones, bars, exclusive clubs, and minia- ture golf courses. 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