One of the Raiders’ founding partners at Allegiant Stadium has apparently been reluctant to complete his multi-million dollar deal with the team.
In March 2020, the Raiders announced a deal with smartphone company Rokit which was to include branding on 13,000 square foot club space in Allegiant Stadium, use of Rokit’s logo on Raiders training shirts and community involvement activities.
The cellphone company had agreed with the Raiders to a price tag of nearly $60 million over 10 years for the founding partnership deal, according to a report by Sportico on Monday.
Rokit reportedly missed a $5.9 million payout for the first year of the deal and hasn’t paid a single dollar to the partnership-bound Raiders since, Sportico reported.
Neither Rokit nor the Raiders responded to a request for comment on the matter.
Rokit signed other partnership agreements with other sports entities between August 2018 and February 2019, including with the Los Angeles Chargers, the NBA’s Houston Rockets and Formula 1’s Williams Racing. They have now paid no more of $100 million in sponsorship deals, Sportico said.
Imply Industries, a subsidiary of Rokit doing business as ROK Brands Inc., filed a $2 million creditor claim for the Raiders in a 2022 Chapter 7 bankruptcy filing. However, a company representative indicated at a meeting of creditors last summer that the company still owed the Raiders the full $60 million of the deal, Sportico reported.
The Allegiant Stadium has two-tier club spaces on the 50-yard line linked to some of the most expensive luxury seats in the facility with the closest view to the pitch.
Credit One Bank Club is located at ground level on the east side of the stadium, with the agreement for this partnership between the banking institution and the Raiders announced in August 2019. Rokit Field Club was to be located on the west side of the stadium. .
However, the Rokit-branded club never materialized. Instead, the other pitch club at Allegiant Stadium on the 50-yard line is dubbed the Champions Club without a title sponsor.
The Raiders were very successful in securing founding stadium partnership deals during their move from Oakland to Las Vegas. Fourteen companies are listed as founding sponsors of Allegiant Stadium on the facility’s website. Rokit is not one of these companies.
The biggest deal, the naming rights deal with Las Vegas-based Allegiant Air, was announced in August 2019, for an estimated deal of between $20 million and $25 million per year for 30 years.
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