Attorney John Morgan of the Orlando-based law firm Morgan & Morgan was approached recently by a Tampa advertising executive about a potential deal to purchase the naming rights to the St. Pete Times Forum in Tampa, Florida. Morgan & Morgan (ForThePeople.com) is one of the nation's largest plaintiff's law firms.
According to an article published on Tampa Bay Online, Morgan said, "I was asked if I have an interest in buying the name of the stadium, and I do ... Putting 'Morgan & Morgan Forum' on that building - that appeals to me." Morgan said he was offered a price of $1.7 million per year by John McKay of McKay Advertising, an independent advertising firm in Tampa. This is almost a million dollars less than the St. Petersburg Times now pays for the naming rights to this arena, which is home to the NHL team Tampa Bay Lightning.
There is no deal currently in progress, and whether Morgan's hopes for the Morgan & Morgan Forum will become a reality remains to be seen. The St. Petersburg Times is currently halfway through a 12-year contract signed in 2002 for the official naming rights to the arena. Under the terms of this contract, the newspaper paid $2.1 million the first year, with payments rising 3 percent annually to $2.9 million in the 12th year of the deal. Forum officials, including Tampa Bay Lightning owner Oren Koules, have denied they're shopping around for a new naming rights partner. McKay, however, is optimistic. "John Morgan is one of the biggest advertisers in the state, and Oren's got big ideas, so let's get them together," he said.
About Morgan & Morgan
Morgan & Morgan is one of the largest Personal Injury law firms in the country with offices nationwide. The firm handles personal injury cases and consumer fraud, as well as claims against drug and medical device manufacturers. Visit ForThePeople.com for a free case evaluation and information about your legal rights.