Thomond Park looking to capitalise on brand name
THE success of Thomond Park "cannot rest on rugby games alone", its director has said as the stadium enters negotiations to rename the East Stand.
Stadium director John Cantwell said the stadium was now over its "honeymoon period" following its j40m redevelopment 18 months ago, and they were "looking at our options again".
Among the financially lucrative offers available to the limited company is the possibility of renaming the East Stand if a suitable partner is found.
Several expressions of interest have been received to be associated with the stand, which, Mr Cantwell, said was "high profile, media facing, and fitted out to a high level of hospitality".
Television cameras are also facing the stand, which adds to its appeal commercially, with an estimated two million people watching a Heineken Cup game on TV.
He said the decision not to rename Thomond Park itself had been "fully vindicated", showed recognition to the supporters, and the name "has a value all in itself".
Former rugby legend Cllr Gerry McLoughlin said he would have no objection to renaming the stand, as long as the company would enhance the stadium.
"They're fantastic stands, and with the times that are in it I'd have no problem with that. Hopefully the company will be associated with the game, and, as it's a sporting venue, I'd be wary of drinks or cigarettes companies. Every little bit helps in these trying times," said Cllr McLoughlin.
In terms of advantages to the prospective company, Mr Cantwell said Thomond Park was "pretty top of the tree in terms of international branding. Very few venues in the country, let alone internationally, would have the exposure of Thomond Park.
"We will be looking at all aspects of the offer, not just financial, but brand compatibility. A brand will have to be compatible with Thomond Park and Munster Rugby, and the core values that need to be respected."
The fixed-term contract will prove to be of economic benefit to the club, which, he said, was operating profitably.
But they will also be examining what's practical for their new partner.
"At the same time, this is a challenging time. Business has to be negotiated and fought for. We can't exist on rugby games alone. We'll be taking nothing for granted. We’ll be out there, and are very pleased with the performance of the company model to date,” said Mr Cantwell.
Richard Tierney, managing director of Ten, which secured the renaming rights of the O2 in Dublin, formerly The Point, is handling the process.
The most recent accounts lodged for Thomond Park Stadium Company Ltd show it had total assets of €25.3m, according to the abridged financial statements for the year ending June 2008.
The Munster branch of the IRFU was owed in the region of €24m in loans for the stadium’s redevelopment.
Amounts owed to creditors at the end of that financial year were five times greater than they were in June 2007.
Limerick and Geneva-based philanthropist JP McManus also donated j4m towards the cost of the revamped stadium.
Since the 26,000-seater stadium reopened in late 2008, it has generated in excess of j70m for the Mid-West.
Forthcoming matches include Magners League games, Munster versus the Glasgow Warriors on March 26; Munster versus Leinster on April 2 and Munster versus Ospreys in late April. The Irish rugby team will take on the Barbarians on June 4, and the singer Pink will be in concert on June 20.
Publicans tackle Good Friday match decision: page 5. see also letters and editorial: page 28
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