Recent Blog Posts
-
The Era of the Renminbi Is at Hand
Nov 20 20092:55 pm EDT -
Computer Glitch Snarls Air Traffic
Nov 19 200910:29 am EDT -
Dollar Doldrums? What Dollar Doldrums?
Nov 19 20098:48 am EDT -
American Express Makes a Revolutionary Deal
Nov 18 200912:05 pm EDT -
Calpers Puts Pressure on Private Equity Funding and Fees
Nov 18 200910:27 am EDT -
Madoff Makes Millions (for Others)
Nov 18 20096:04 am EDT -
Lazard Looks Within Its Ranks for New Chief
Nov 17 20091:44 pm EDT -
A Brutal Morning for Geithner
Nov 17 20098:02 am EDT -
GM to Start Payback
Nov 16 20095:57 am EDT -
She Rules
Nov 13 200910:48 pm EDT
Collars Up at the Nets Games
Is the preppy look here to stay? New Jersey thinks so.
The New Jersey Sports and Exposition Authority announced today that the Continental Airlines Arena will be renamed the Izod Center.
It seems that Izod, best known for the ubiquitous crocodile shirts it made for Lacoste back when Reagan was president and Duckie and Blaine sparred on the big screen, beat out two urban streetwear clothing lines for the naming rights to the arena. Izod is owned by Phillips-Van Heusen, which owns other brands including Calvin Klein and Kenneth Cole.
Def Jam chief executive Jay-Z had hoped to win the rights to put his clothing line, Rocawear, on the sign outside the home of the New Jersey Nets. Southpole, another urban menswear brand, also bid and lost to Izod.
The five-year deal with Izod gives the New Jersey sports authority $1.4 million in cash annually, along with $600,000 in marketing as well as $100,000 in employee uniforms. The marketing package and all-cash offer were key to Izod's win, according to the authority's C.E.O, who spoke to Bloomberg.
But certainly the promise of having its employees outfitted according to the guidelines of the Official Preppy Handbook didn't hurt.
Continental dropped out of its 12-year deal with the sports center after the New Jersey Devils moved to another arena in Newark.
The Nets will play at the Izod Center for two more years, and then they will move into their new home in Brooklyn. The forthcoming arena there will be named Barclay's Center.
We suppose that blows any chances of the team being renamed the Crocs.
by Megan Barnett
Laura Rich is a co-founder of Recessionwire, which provides news, advice, perspective and humor about the recession and the recovery.






