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Naming Rights Deal is Called Off

EAST RUTHERFORD, NJ - The Giants and Jets have broken off talks for a potential $600M naming-rights deal with Germany-based Allianz.

By Eric Peterson | Updated on September 15, 2008

EAST RUTHERFORD, NJ-The new under-construction stadium for the NFL’s Giants and Jets will have a naming sponsor, and the final deal aims to be a record transaction, probably in the $600-million range. But that name won’t be Allianz–the Munich, Germany-based financial giant. As reported, the teams’ joint stadium development organization, the New Meadowlands Stadium Co., had been deep in talks with Allianz, with a deal said to be close. But those talks have been broken off by the teams.

The breakdown came after extensive media coverage of Allianz’s past. Various reports in the local and national press had focused on the company’s ties to the Nazis during World War II.A statement issued by officials of the New Meadowlands Stadium Co. confirmed the end of negotiations with Allianz. “We are continuing discussion with other potential partners for the new stadium,” the statement reads. “We look forward to the summer 2010 opening of this new icon for our region.” An Allianz spokesman similarly confirmed the end of talks, and declined further comment.

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