From NFL Media.com press release Tennessee Titans’ Stadium to be Named LP Field
LP, Premier Supplier of Building Products, Purchases Naming Rights
NASHVILLE, Tenn. (June 6, 2006) - Louisiana-Pacific Corporation (LP) (NYSE: LPX) and the Tennessee Titans today announced an agreement on a stadium naming rights sponsorship; the Titans stadium in Nashville, Tenn., will now be called LP Field. This agreement calls for LP to have stadium naming rights for 10 years at a cost of approximately $3 million per year.
“This is a rare opportunity for LP to align with a great organization, the Tennessee Titans, as well as the National Football League, the most prestigious brand in sports,” said LP CEO Rick Frost. “The LP brand will gain exposure and grow through this dynamic alliance with the Titans.”
Frost continued, “We are very proud as well that a great institution like Tennessee State University will play all its home games in LP Field. We are committed to making this sponsorship successful for our company, our customers, and the Nashville community.”
For the duration of the agreement, LP and the Titans will work together on several philanthropic initiatives to benefit Nashville and surrounding communities. Specifically, for the 2006 season, LP and the Titans will jointly provide financial and volunteer support to build a home for the Nashville Area Habitat for Humanity. Additionally, LP will continue to support The PENCIL Foundation, a Nashville business-school partnership program and its LP PENCIL Box free school supplies store. LP will now have opportunities to incorporate the Titans into these and other philanthropic efforts.
“LP is a pillar in the Nashville community with many of the same values that the Titans represent,” said Titans Owner K.S. “Bud” Adams, Jr. “I have had the pleasure of meeting several employees and am thrilled with this relationship. Both the Titans and LP have a vision of significant community involvement that is incorporated into this agreement.”
“LP represents Nashville's strength as a city at the top of its game,” said Nashville Mayor Bill Purcell. “This relationship between LP and the Titans will make sure everyone knows that whether it comes to scoring touchdowns or building a successful business, Nashville is the place to be.”
Tennessee Governor Phil Bredesen said, “Since choosing Tennessee as its home, LP has shown in many, many ways that it is a considerate and active corporate citizen. This sponsorship demonstrates to the whole nation that LP is proud of its new home city, proud of its state and proud of our Tennessee Titans. I am delighted to hear this news."
It was also announced today that LP will donate its building products to Habitat for Humanity to support the construction of at least one home in every city in which the Titans play an away game in the 2006 season. Specifically, LP will be donating a kit of LP materials that provide the structure and siding of homes -- Oriented Strand Board (OSB) structural panels, LP I-joists, flooring systems, LP TechShield® Radiant Barrier roof sheathing, LP SmartSide® siding and trim products, as well as LP WeatherBest® composite decking and interior decorative mouldings.
LP has launched a specific LP Field Web site at www.lpfield.com. The Web site features events, attractions, links to ticket sales and a sweepstakes for tickets to the Titans opening home game.
Headquartered in Nashville, Tennessee, LP is a premier manufacturer of building products, delivering innovative, high-quality commodity and specialty products to its retail, wholesale, homebuilding and industrial customers. Visit LP's Web site at www.lpcorp.com for additional information on the company.
