According to The Spokesman-Review, CenturyLink, Inc. wants to ensure they keep the naming rights to the stadium where the Seattle Seahawks play and is willing to pay more to do it. CenturyLink is offering to negotiate a new contract two years before the current deal expires.
According to a special legislative advisory committee, they were told CenturyLink is asking the state Public Stadium Authority to approve a 15-year, $162.7 million extension of the deal to keep their name on the stadium. The authority oversees the sports facility that is built with taxpayer money and it likely to agree.
According to the Spokesman, it is the success of the Seahawks that makes the naming rights so valuable. The Hawks have appeared in five consecutive playoff appearances, and the Seattle Sounders who also play in the stadium, not only won the MLS Cup in 2016 but also lead the league in attendance.
Football Northwest, LLC, which owns the Seahawks and First & Goal Inc, which operates the stadium, have both already approved the extension.
The authority hired sports business consultant Dan Barrett to look over the deal. Barrett estimated the new contract would rank fifth among the 24 NFL teams that sell the naming rights to their stadiums. The current contract ranks 17th.
(KPUG with information from The Spokesman Review)