CMGI TAKES THE FIELD
By Adnews Staff
Direct marketing and investment company CMGI Inc. of Andover, Mass. has struck a marketing and technology partnership with the owners of NFL football team the New England Patriots and the team's new stadium for the naming rights to that venue. CMGI reportedly beat out several regional, national and global companies bidding to have their names attached to the $325 million stadium that will house the Patriots and the New England Revolution professional soccer team. Under a 15-year agreement, CMGI will pay the Patriots $76 million during the first ten years of the contract. For the remainder of the agreement, payments will based on CPI adjustments. The agreement also stipulates that CMGI's majority-owned companies, including Alta Vista and NaviSite, will be named the preferred technology partners for the teams. CMGI said it will also have promotional rights both in and around the stadium as well as within the team's marketing and advertising properties. The stadium, which will be named CMGI Field, is expected to be open in 2002 in Foxboro, Mass.