New Ownership Looks To Keep The Fins Fizzing…

June 29, 2009 by Joe Favorito · Leave a Comment 

Because the NFL is so much the American spectacle and a weekly destination watch for much of American, we often forget that several franchises still need to work in case of those rainy days to build brand value year-round, keep fans and business partners interested and engaged, and find new ways to generate revenue despite lofty ticket prices, PSL’s and TV money. For every sold out stadium there are a few still figuring ways to make sure market value grows. Perhaps the best example of that this offseason is the Miami Dolphins, under new owner Steve Ross. The fins have seemingly made a move every week, whether it is in fan access programs, new seating plans, altered colors, different naming rights deals and most recently, celebrity owners. Even with a much improved playoff team last year, the Dolphins ownership change, not to mention the sluggish South Florida economy, kept the teams brand building in flux, and with his hefty investment to buy, Ross and his management team have looked to every possible avenue, assuming nothing and taking no one for granted, to make sure that the Dolphins brand value ascends not just in South Florida, but in a national buzz and relevance quotient that is reflects in increased merch and ticket sales and a grander place in the NFL hierarchy. All the offseason buzz generation is a very smart move for the first year owner, and they have played to every segment of a potential audience to grow marketshare. While some may say, “Its the NFL, what do they need to sell themselves for?” the answer is simple….as an owner trying to invoke change you never get a second chance to make a first impression, and in this economy taking anything for granted, especially in a market where discretionary dollars can go elsewhere, could be a very fatal flaw, even for the most solid of brands, sports or not.

Fins To The Left, Fins To The Right…Dolphins Hit It With Short Deal…

May 15, 2009 by Joe Favorito · Leave a Comment 

Steve Ross is a billionaire or has made the Related Companies into one of the most successful commercial real estate companies in the world. He has purchased the Miami Dolphins, has shown savvy to find a way to keep Bill Parcells around, has let the team continue to grow after a surprising playoff season a year ago, and has a host of minority partners who he will tap into, including the legendary Jimmy Buffett. So this week the team announced a short-term deal to rename Dolphins Stadium after A-B’s Land Shark Beer, a Buffet brand. Eventhough, as Terry Lefton pointed out in the Sports Business Daily this week, the NFL will have the team remove the name for the Pro Bowl and Super Bowl, the short term benefit to the small brand plus the good will and fun that will be built up through the summer of Marlins baseball and into the fall with the Dolphins will get the team and the area some much needed traction, spin and maybe a little bit of controversy in a down economy. This is not rent a stadium for the day, as some minor league teams have done. This is a smart, calculated move by some very savvy branding folks who probably have a bigger picture play involving the Buffett brand in mind, not to mention a great test market for Anheuser Busch. Will it “devalue” future naming rights deals? In this economy few are actually happening and none at premiums, and today when brands are looking to extract every ounce of added value into any deal, this one may be a bit cash poor but brand profitable. The biggest challenge will be to match branding and goodwill and fun for the new naming rights deal if Land Shark does go away. The images of The Coral Reefer Band may resonate deeper than a bank or other institution who may be willing to pony up after the season. Could it have been done earlier to give the Marlins more chance to adjust? Maybe. But there would have never been an optimal time and if played right, everyone will know where the action is for both teams. Fun, smart branding move for the Fins.