College basketball season might be over but for the NCAA, March Madness is just beginning.

Last October, the NCAA secured exclusive rights to the term “March Madness” from sports and entertainment marketer Intersport. Many in college athletics weren’t even aware of the eight-figure settlement until  USA TODAY reported the news in May.

According to USA TODAY, Intersport had retained usage rights to “March Madness” through an agreement with the Illinois High School Association in the early ’90s. The IHSA and NCAA once shared the trademark. The IHSA gave up its ownership several years ago, but still kept use of the term in connection with high school basketball championships. However the NCAA considered any other use “detrimental to the trademark.”

When asked if $17 million-plus may was too hefty a price tag, Randall Scott–Senior Vice President at Addison Whitney–questioned if an equally profitable alternative name even existed for the basketball tournament.  “If you called it something else, would it have the same cachet and familiarity?” he asked.

USA TODAY reports that CBS and Turner are paying $10.8 billion over 14 years to carry the the Division I men’s basketball tournament, making it NCAA’s most critical source of income.

“Is it worth it?” Scott asked. “Absolutely. The real question is if $17 million was the right number.”

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This weekend, more than 1,200 cyclists converged on Charlotte for 24 Hours of Booty. For 24 hours, cyclists rode a nearly three mile loop around the Myers Park neighborhood in a sign of unity against all types of cancer. This annual event raises money for cancer research and survivorship. This year, participants raised more than $1 million!

Addison Whitney’s own Verbal Branding Coordinator Jenna Wise took part in the ride as part of Team Gita. Volunteerism is a large part of the Addison Whitney culture so seven members of our team, along with a few spouses, signed up to help out.

Some people may think of volunteering as something you’re giving an organization, but I’m always amazed at how much I get back from volunteering a few hours of my time. This event was incredibly inspiring. The race began as cancer survivors rode off after an emotional send-off. And then an army of cyclists, some riding in memory of those they’d lost to cancer, and others simply devoted to helping others took off – all 1,200 of them.

This event isn’t about how many laps you’ll ride, it’s about why you ride. The best part of my night was then a father and daughter came over to chat. The young girl proudly told me she was riding for her mom who was a survivor. That’s why you ride.

When my mom called to tell me she was the proud owner of this season’s hottest clothing item, I thought she may have bought some boots with the fur. Lo and behold, she got her hands on some of the red Olympic mittens, an early birthday present from my dad. The latest craze, these branded mittens feature a maple leaf on the palm and Olympic rings on the back. Stitched with the words “Vancouver 2010,” this collector’s item is now one of her favorite keepsakes. To put it bluntly, she thinks she just reached a whole new level of cool.

Evidently, she is not the only fan of these mittens. According to the Vancouver Sun, retailers have sold every last pair. At less than 10 dollars a pair, over 3.5 million pairs were sold over the five month promotion. The profits from the mittens helped fund the Own the Podium Program which launched in 2005 to prepare Canada to become the top winter sporting nation in the world by 2010. More than just a souvenir, the mittens became a top item to show support for the Games.

Oprah Winfrey promoted the red mittens when she handed out 300 pairs to her talk show audience. After expressing her fondness of the mittens, the Vancouver Organizing Committee (VANOC) shipped a box to her studio, drawing further attention to the mittens. Who knew they would create such a stir.

The Olympic brand encompasses all of the names, phrases, marks, logos and designs related to the 2010 Winter Games. What better way to promote this major international event then by sporting some stylish red mittens? They’re both affordable and practical!

Contributed by:  Ashley Popham

Last year, the Concord, NC street that takes hundreds of thousands of racing fans to Lowe’s Motor speedway was re-named Bruton C. Smith Boulevard in honor of the Speedway Motorsports Inc. owner. Next year, the track itself will undergo a name change as well. On Thursday, Lowe’s announced that it will not renew its naming rights for the Concord speedway.

Lowe’s brokered exclusive naming rights with SMI in 1999, making Lowe’s Motor speedway the first major naming-rights deal of a NASCAR track. The partnership has been viewed by many as a success, as the fairly young Lowe’s brand has enjoyed exposure to millions of NASCAR fans for nearly a decade. But, but as priorities and budgets shift to survive in the recession, so too will the marketing resources of the company.

According to a NASCAR press release, SMI owner Bruton Smith expects the track to work to find a new title sponsor. If a new sponsor can’t be found, the track’s name will revert to Charlotte Motor Speedway.

Of course, this is not the only corporate sponsorship to dissolve within the past year. Professional sports across the board are having more trouble holding on to their lucrative deals with companies, specifically those in the financial and automobile industry. With this decline, yet another reflection of a downturned economy, might we see the pendulum swing back to a world of stadiums and fields without corporate monikers?

If so, which sports venues would you like to see returned to their original names?

Contributed by: Maghan Cook