July 25 (Bloomberg) -- The New York Giants reached a sponsorship agreement with Quest Diagnostics Inc. for their practice center near MetLife Stadium in East Rutherford, New Jersey.
Quest, the biggest provider of diagnostic information services in the world with $7.4 billion in revenue last year, is replacing Timex Group USA Inc. as the sponsor. The National Football League’s Giants announced yesterday that the previous deal had been mutually terminated.
The 20-acre facility, which sits along a major commuter highway in the New Jersey suburbs, will become the Quest Diagnostics Training Center under the agreement, Giants Chief Marketing Officer Mike Stevens said yesterday in a telephone interview. The company also will work with the team in an effort to expand its new sports diagnostic business.
“We can develop new diagnostic capabilities that would be helpful to the most advanced athletes like the New York Giants, and also people who are mere mortals,” Quest Chief Executive Officer Steve Rusckowski said in a telephone interview.
Terms of the agreement weren’t disclosed. Stevens said annual revenue from the contract was “in the realm” of the team’s naming-rights agreement with Timex. Team President John Mara has said that 15-year deal, reached in 2009, was worth more than $35 million. That works out to $2.33 million a year.
Opened in May 2009, the facility holds the team’s headquarters, three full-length grass football fields and a pair of 80-yard turf fields -- one indoors and one outdoors. Signs on the center, which is about 800 yards from MetLife Stadium, are visible from New Jersey Route 3.
The agreement also will give Quest the opportunity for brand exposure within the 82,500-seat stadium and on the team’s website.
In addition to the revenue from the deal, the Giants also will work with Quest in developing tests related to sports. This could lead to new information on how performance is affected by variables such as diet and hydration, Ronnie Barnes, the team’s senior vice president of medical services, said in a telephone interview. The team already uses global positioning systems to measure how far players run during games.
“Quest Diagnostics is a company with enormous resources and capabilities,” Barnes said. “The partnership provides a wonderful laboratory for them for ideas and applications.”
Stevens said terms of the agreement allow the team will allow Quest to share its findings with the public.
Quest employs 42,000 people worldwide, Rusckowski said. It is based in Madison, New Jersey, about 25 miles from MetLife Stadium.
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