Money

Highwire bidders slow to step out

By Xu Fan (China Daily)
Updated: 2010-04-22 10:31

A plan by management of the National Stadium to solicit bids for naming rights to a highwire acrobat's two-month stunt is teetering.

As of Wednesday, only one company had registered to place the minimum 1-yuan bid on naming rights to the performer's wardrobe, cellphone and cabin.

But no bidders have yet emerged for the 660,000-yuan minimum sponsorship of the event itself at the stadium, popularly known as the Bird's Nest.

The naming rights auctions were designed for the effort by Guinness World Records holder Adili Wuxor, according to the National Stadium Co Ltd, operator of the facility.

The auction recruitment started April 14 and will end on Monday, when the four naming rights will be auctioned by Beijing Yihai Auction Co Ltd.

The company sold an opportunity to join Formula 1 driver Michael Schumacher as co-pilot in the 2009 Race of Champions for 230,000 yuan.

That auction was derided as "a commercial promotion" by some in the domestic media, who lashed out at the company's dealmaking.

Zhao Xiaokai, chief planner with Beijing Yihai, told METRO lack of interest in the Wuxor naming rights was "worrying" as only one company had handed in the 50,000 yuan guarantee fee to register for 1-yuan bids as of Wednesday.

"Nearly 10 enterprises have contacted us and asked questions about the process, but only one Beijing-based company engaged in construction projects confirmed it would join the bidding," Zhao said.

Zhao said the guarantee fee for the four auctions is divided into two levels, including 100,000 yuan for the minimum bid for the 660,000-yuan auction and a 50,000-yuan guarantee fee to participate in the three 1-yuan auctions.

The three 1-yuan auctions permit the winning bidder to advertise on Wuxor's performance wardrobe, cell phone and cabin. The cabin will be set 60 meters high and will accommodate Wuxor from mid-May to July, according to the National Stadium Co Ltd.

Zhao added the registered company is considering adding 50,000 yuan to bid on the 660,000-yuan auction. That company's executives revealed to him they believed it would "cost much more to purchase advertisements on Beijing TV or radio stations" than to purchase the naming rights.

"Even if only one company participates in the bidding, the auctions will still run," said Zhao. "If no second enterprise participates, the company can win the Bird's Nest Adili performance's naming rights just by spending 1 yuan."

However, an official with the National Stadium disputed that embarrassing prediction.

Yang Cheng, vice-president of the National Stadium Co Ltd, told METRO news that only one company has registered was "totally a rumor".

"Normally, the registration information shouldn't be revealed to the media before the final bidding as it would be unfair to the participants," he said. "Bidding for the Bird's Nest is a kind of commercial development and is currently an immature concept. We are still doing the trials and exploration."