OVERHEARD -- WSJ
February 16 2019 - 3:02AM
Dow Jones News
By Spencer Jakab
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (February 16, 2019).
Most of us have heard of the Stadium Curse -- the phenomenon in
which companies soon go bankrupt, or worse, after affixing their
names to a sports venue. There was Enron Field, Adelphia Coliseum,
the Transworld Dome and many others.
Sometimes, though, it is the stadiums that have been cursed even
as the shareholders of the companies in question feel charmed.
Mergers and acquisitions wind up sending a lot of corporations to
the scrap heap, leaving making multi-decade naming rights obsolete.
The latest is SunTrust Park in Atlanta, where the Braves play. The
ink on the 25-year naming deal had only had a couple of years to
dry before the bank was snapped up by regional peer BB&T in the
largest U.S. bank merger since the financial crisis.
It isn't the only baseball field name that will wind up
confusing fans now. The combined company reportedly is working on a
new name, while BB&T also has its name on minor league baseball
stadiums in both Winston Salem and Charlotte, N.C., and
Williamsport, Pa.
Shareholders won't always cheer, but at least the sign-makers
are happy.
Write to Spencer Jakab at spencer.jakab@wsj.com
(END) Dow Jones Newswires
February 16, 2019 02:47 ET (07:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
BB and T (NYSE:BBT)
Historical Stock Chart
From Mar 2024 to Apr 2024
BB and T (NYSE:BBT)
Historical Stock Chart
From Apr 2023 to Apr 2024