The Macy’s Holiday Train?
Bud Light’s New Year’s Eve Penny Rides?
Waste Management CTA Recycling Bin?
Maybe not yet, but more corporate sponsors will soon be putting their names on valuable CTA assets – and maybe some not as valuable – after the transit agency’s board approved a contract to explore more sponsorships and naming rights.
IMG International will get no upfront money to research the viability of naming rights and corporate sponsorships for various CTA assets and properties, according to a CTA press release. “If sponsorships are secured and approved by the Chicago Transit Board, IMG will be compensated strictly by commission and on a graduated percentage scale depending on the value of the sponsorship transaction,” said the CTA in the release.
The CTA already has identified the following as its most valuable assets:
- Bus Tracker
- Train Tracker
- The Holiday Train
- The New Year’s Eve penny rides program
But there are plenty of other assets IMG will put out feelers for naming rights, including:
- The CTA website
- Rail stations
- Winter heat lamps
- Recycle bins
IMG will conduct a three-part process to determine how the CTA can best position itself to entertain offers from private companies, said the release:
- Identify which CTA assets are marketable.
- Evaluate the market value of the properties.
- Develop Requests for Proposals to solicit sponsorships.