3. SCOPE OF SERVICES AND DELIVERABLES It is the City’s intent to select a company based on the qualifications and abilities of the firm and key project individuals. The primary objectives of this project are to: 1. Evaluate Sponsorship and Naming Rights Opportunities: Assess the market value of naming rights for the Tacoma Dome and a secondary reduced capacity venue name, including pricing strategies and revenue potential. 2. Identify Additional Revenue Streams: Explore and recommend revenue-generating sponsorship and/or premium opportunities for the venues. 3. Develop Strategic Recommendations: Provide a comprehensive strategy for implementing naming rights and/or premium seating and hospitality options and maximizing additional revenue opportunities for all venues. The consultant will be expected to: 1. Market Analysis: o Conduct a comparative analysis of similar venue sponsorships and other premium revenue opportunities within the industry and region and benchmark against similar venues. o Assess the Tacoma Dome’s brand positioning, market potential, and competitive landscape. 2. Valuation Methodology: o Develop and apply a robust valuation model including pricing strategies, revenue projections, and potential ROI. o Identify key factors that impact the value of naming rights and recommend strategies to enhance attractiveness to potential sponsors. 3. Sponsorship and Activation: o Revenue Strategy and Planning: Identify viable sponsorship categories and prioritize them based on market demand and alignment with venue audiences. o Premium Seating and Hospitality: Assess potential revenue from luxury suites, club seats, and hospitality packages. o Venue Branding: Explore naming rights and branding opportunities for specific venue zones, such as entrances, lounges, and other spaces. o Additional Assets: Consider affinity space sponsorships and revenue opportunities for parking lots, signage, and other venue-related assets. 4. Strategy Development: o Create a detailed strategy for selling sponsorships and capitalizing on additional revenue streams, including: Pricing and valuation models Marketing and promotional strategies Proposal and presentation formats Recommendations for potential sponsors 5. Deliverables: o Prepare a comprehensive report detailing: Market analysis and valuation findings
