The Colts have nailed down their third, multi-million dollar sponsorship deal within a month.
At noon today, team officials announced from their 56th Street training complex that Baker & Daniels LLP has signed a six-year deal to be a founding partner at Lucas Oil Stadium, which is set to open next fall.
The agreement will include naming rights for the upper and lower east club levels, as well as media advertising. The Indianapolis-based law firm also will have opportunities to network with the Colts in community-related events and programs.
Though terms of the deal were not released, sports marketers estimated the deal to be worth $1 million to $1.5 million annually.
"For nearly 150 years, Baker & Daniels has thrived by being directly involved in the things that matter most to our community," said Jack Swarbrick, a Baker & Daniels partner who concentrates in sports law and has been instrumental in bringing major sports events and organizations to central Indiana.
"Baker & Daniels' involvement as a founding partner of Lucas Oil Stadium continues that tradition. This remarkable facility will not just be a great home for our world champion Colts, it will be an iconic image for our city and an extraordinary venue for everything from Final Fours to major conventions."
With more than 370 lawyers and consultants, Baker & Daniels serves clients in regional, national and international business and litigation matters from offices in Indiana, Washington, D.C., and China.
On Oct. 2, Colts officials signed a six-year deal with Indianapolis-based Advantage Health Solutions Inc. that includes naming rights to the area for club ticket holders on the west side of Lucas Oil Stadium. That deal, sports marketers said, is similar in size to the Baker & Daniels deal.
On Sept. 23, the Colts announced that Columbus, Ohio-based Huntington Bank signed a multi-year deal to sponsor the west gate of the new stadium. Colts officials had said previously naming rights for gates would sell for $1.4 million a year. The value of that deal could be pushed higher by advertising buys and media deals.