The CTA finally has determined which of its "assets" it will offer to Chicago companies for naming rights. The transit agency announced Friday it had issued requests for proposals for naming rights on:
- The CTA Holiday Train
- New Year's Eve Penny Rides
- Free Rides for Chicago public school students on the first day of school
- Bus Tracker
- Train Tracker
I suspect the latter two will rake in the most cash, which is probably why the CTA is offering just one year contracts for them. The CTA will tender three year contracts for the first three assets listed here.
The CTA is working with its partner IMG to accept the naming rights proposals, which are due April 20. Under CTA’s contract, IMG will only be compensated if sponsorships are secured and approved by the CTA board. Compensation is based strictly on commission and on a graduated percentage scale based on the value of the transaction.