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"World Trade Center" Naming Rights Sold For $10 in 1986

Sunday, September 08, 2013

What's in a name?  Well, if the name is as iconic as "World Trade Center," there's quite a lot to it.

According to an investigation by the Record of Bergen County, The Port Authority of New York and New Jersey sold the naming rights of the iconic buildings to a nonprofit group in 1986 for $10. The Port Authority now pays thousands of dollars every year to use the name.

In the nearly three decades that followed the executive who made the deal, Guy Tozzoli, earned millions of dollars from licensing the iconic name around the world through his group, the World Trade Center Association.

 

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Information from: The Record (Woodland Park, N.J.), http://www.northjersey.com

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