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$550 million naming rights cash bonanza for top teams


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Major companies are now spending more than $550 million a year to get their names on sports stadiums in Europe and the United States, according to a report released Thursday. The amount of money pouring into European football and US basketball, baseball and hockey stadiums has risen by 21 percent in three years with phone companies particularly keen to get involved, according to the Repucom sports data firm. Telecom firms account for about $64 million of the $552 put into stadium sponsorship, said Repucom's annual report on naming rights.

 

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