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Cape Coral explores selling naming rights and sponsorships for parks and facilities to raise revenue
Summary
City staff and outside consultants presented a valuation and sales roadmap for naming rights and category sponsorships across Cape Coral parks and venues; council gave general support and asked staff and the consultant to continue with a sales campaign plan, leaving final approval and contract terms to future council action.
The City of Cape Coral on May 28 heard a presentation from Parks & Recreation staff and a private consulting firm, the Superlative Group, outlining the results of a preliminary inventory and valuation of park assets that could be packaged for corporate naming rights and sponsorships.
Parks & Recreation Director Joe Petrella introduced consultants Sean Gallagher and Ethan Richards of Superlative, who said they had completed a phase-one valuation to estimate fair-market ranges for naming rights and sponsorship packages across the city's park assets and events. The firm's methodology combined estimated audience impressions with industry-standard media CPM rates and local…
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