Forsyth Barr ignores recession to buy Otago stadium naming rights

A global economic downturn might make other corporate sponsors think twice but it hasn’t stopped local broking house Forsyth Barr from writing a “substantial” cheque to secure the naming rights to the new Otago stadium.

The new 30,000-capacity stadium, which is due to be completed in time for the 2011 Rugby World Cup, will be called Forsyth Barr Stadium at University Plaza.

Forsyth Barr chairman Eion Edgar refused to say how much the naming rights of the stadium had cost the company but did describe it as “substantial.”

“This will raise our profile as we expand around the country. The Stadium adds another dimension to Dunedin and Otago and is something our people will use and be proud of,” he adds.

Stadium Trust chairman Malcolm Farry says: “This is a very significant milestone in the community’s progress towards achieving the private sector funding target set by councils of $27.3 million.”

The naming right deal comes at a time when other large corporate sponsors have pulled out of deals. Philips withdrew as a sponsor from the All Blacks last year while ING have cut back on their Formula 1 spending.

The University of Otago has secured the naming rights to the Stadium Plaza.


2 · Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

2 Comments & Questions

Commenter icon key: Subscriber Verified

Forsyth Barr Stadium at University Plaza.... Long and lame for the new stadium. NewBrook, Carisbrook 2.0 or simply Forsyth Stadium, much better options in my oppinion.

Reply
Share
  • 0
  • 0

On'ya Forsyth Barr.

Reply
Share
  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6966 0.0028 0.40%
AUD 0.8925 0.0036 0.40%
EUR 0.5933 0.0029 0.49%
GBP 0.5276 0.0015 0.29%
HKD 5.4323 0.0193 0.36%
JPY 79.2000 0.0310 0.04%

Commods

Commodity Price Change Time
Gold Index 1278.6 -9.430 2017-10-20T00:
Oil Brent 57.8 0.550 2017-10-20T00:
Oil Nymex 51.9 0.580 2017-10-20T00:
Silver Index 17.0 -0.177 2017-10-20T00:

Indices

Symbol Open High Last %
NZX 50 8124.1 8142.3 8124.1 0.07%
NASDAQ 6633.4 6640.0 6605.1 0.36%
DAX 13014.6 13069.4 12991.3 0.09%
DJI 23205.2 23328.8 23163.0 0.71%
FTSE 7523.2 7542.0 7523.2 0.02%
HKSE 28557.8 28557.8 28487.2 -0.64%
NI225 21709.3 21723.6 21457.6 1.11%
ASX 5907.0 5925.3 5907.0 -0.22%