Wednesday, June 1, 2011

NPTtv Summary: Livestrong Gets a Stadium

Note: This is a summary/reaction to a story from the latest webcast of The NonProfit Times.

Despite allegations by team mates that 7 time Tour De France winner Lance Armstrong used banned performance enhancing drugs, his brand hasn't appeared to suffer much.  Want proof?  Look no further than Kansas.

Sporting Kansas City (SKC) is set to open its new $200 million Major League Soccer (MLS) stadium in Kansas City with the name Livestrong Sporting Park. The Livestrong Foundation licenced the use of its name on the stadium, and will receive a cut of its revenues without having to pay a dime.  Typical MLS naming rights range between 2 and 2 million dollars, so the Foundation got quite a deal here.

To make that deal even sweeter, SKC has guaranteed a donation to the foundation of at least $7.5 million over six years. This money will come from a portion of ticket and concession stand sales to Major League Soccer matches, as well as other stadium events. Overall, The Livestrong Foundation will get between 1.2 and 1.5 million dollars each year.

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