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From Legacies To Logos

When Super Bowl XXXV kicks off this Sunday, all eyes will be on Raymond James Stadium, which raises the question: who the heck is Raymond James?

"He" is actually an "it" — an investment company with no real ties to football, other than paying tens of millions of dollars to put its name atop the field. All across the country, legacies are giving way to logos.

As CBS News Correspondent Cynthia Bowers reports, it's a trend many find irritating and inexplicable.

"If I'm running a corporation, this is the last thing I do because about 28 of the last 51 corporations that have slapped their name on stadiums or started a new stadium and put PSINet or Network Associates Stadium, they're all going right down the tubes," said Rick Reilly, a Sports Illustrated columnist.

That would be Baltimore's PSINet Stadium, whose company logo may be on the scoreboard but whose stock value is far from super, or Miami's ProPlayer and St. Louis' TWA Dome: both companies are now bankrupt.

And the clock could run out on legendary names like Soldier Field, Fenway Park, Mile High Stadium — or maybe not: In Denver, a team of underdogs is making a valiant goal-line stand trying to turn back a $60 million offer and keep the old name on the new stadium.

"The people are paying for the large majority of the stadium and they want the name Mile High," said John Hickenlooper of Friends of Mile High, the organization behind the save-the-name effort.

It's not just sports arenas getting slapped with corporate logos these days. The lucrative name is moving far afield as an increasing number of cash-strapped communities look to plug private money into public projects.

In Boston, the Metropolitan Transit Authority is selling naming rights to subway stops. In Virginia, sections of highway may be sold to the highest bidder, which makes Reilly wonder, "What's next? Are we going to visit the Statue of Liberty Mutual? Are your kids going to school at PS Century 21?"

Or will the Denver message be heard, namely: just because something has value, doesn't always mean it's for sale.

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