For a low, low price in the hundreds of millions of dollars, Beijing’s $500-million National Stadium, known as the “Bird’s Nest,” is peddling 30-year naming rights, courting six multinational corporations for logo privileges and other partnerships, the Wall Street Journal reports. The “Water Cube” Aquatics Center is also selling partnership rights, though only inside.
“I would call it the most valuable piece of real estate in the world right now,” one broker said. After being refit, the stadium will seat 80,000, host a soccer franchise and aim for 60 events per year. The Water Cube will become a water park and bar. While common elsewhere, says the Journal, sponsoring venues is a new idea in China, where most facilities are state-owned.