Rocawear loses bid for stadium naming rights
Rocawear has lost its bid for the naming rights to the New Jersey Nets Continental Airlines Arena.
The Izod clothing company outbid Rocawear by offering to pay $1.4 million per year in cash and also putting together a marketing package.
The arena will open with its new name on October 31, when the Nets play their home opener against the Chicago Bulls.
It does seem kinda strange that Rocawear would lose out, especially since they put up basically the same offer (minus the marketing package and not paid for in cash) and Jay-Z, as the clothing brand’s owner, has a stake in the Nets also.
It might all make sense though when Jay gets his way and the Nets move to Brooklyn, hence the real possibility of that arena being given the Rocawear title.