Latest news with #namingrights
Yahoo
2 days ago
- Business
- Yahoo
New name in play for MassMutual Center in Springfield
SPRINGFIELD — The Massachusetts Convention Center Authority that owns the MassMutual Center arena downtown is nearing a naming rights deal. The authority received a 'low number' of eligible responses when it solicited bids last month, said spokesman David Silk. The authority is reviewing those proposals and expects to make a decision in weeks, not months, Silk said. The deal will need approval of the authority's board. First opened in 1972, the venue was the Springfield Civic Center until MassMutual signed a $5 million naming rights deal in 2003. That deal began when the arena reopened with a convention center addition in 2005 and was to have expired in June 2021. The MassMutual name remains on the building pending a new deal. MGM Resorts International manages the MassMutual Center in conjunction with its MGM Springfield Casino under a 10-year agreement reached with the authority in 2022. The authority feared tying the building too closely with the casino and sought a different company to be the naming rights sponsor. Earlier this month in Connecticut, Holyoke-based PeoplesBank, announced it bought the naming rights for the former Hartford Civic Center. The bank is expanding in the Nutmeg State. The Hartford arena — most recently called the XL Center — will be PeoplesBank Arena. The Hartford arena hosts many home games for the perennial national powerhouse men's and women's University of Connecticut basketball teams, as well as the Hartford Wolfpack of the American Hockey League. In Springfield, the arena's premier tenant is the AHL's Springfield Thunderbirds. Read the original article on MassLive.
CTV News
3 days ago
- Business
- CTV News
Writing could be on the wall for Orillia to generate revenue
The official grand opening of the Orillia Recreation Centre is Friday, Aug., 19, 2022 (PHOTO SUBMITTED BY CITY OF ORILLIA) Naming rights to buildings are common throughout Simcoe County and now Orillia is asking its residents for the 'OK' to name several of its city owned properties. Before moving forward with the initiative, the city is turning to its residents for feedback. 'I think anything that generates revenue for a town of city is a great idea especially if it doesn't cost us citizens anything,' said one resident. City staff say there are several locations that could sponsored by local businesses including Orillia Recreation Centre, the opera house, rotary place, the library and even the city's waterfront center could be re-named for the right price. Don McIsaac, mayor of Orillia said the city is looking at all its options. 'We're just looking to see what's possible I mean this is just an idea it could work out there are impediments to it that don't make sense,' said McIsaac. 'But we think it makes sense so we're just trying to figure out what's possible.' City staff have created an online survey where residents can voice their thoughts. The city is also asking people what they think about using some city owned locations as a possible location for some smaller businesses. 'We have places where they can put up coffee shops and they can do a commercial lease, we have places where they can take naming rights on a building they can take naming rights on a dressing room, arena's,' said McIsaac. 'it's unlimited really in terms of the amount of space we have that can take a name.' Other residents say if the initiative can save them money, then to go ahead with the idea. 'It can help the property taxes I think it's a good promotional idea and you know it will bring people out to support those companies and support the town, said Orillia resident Steve Alison. Residents and business owners in Orillia can have their say on the idea by taking part in the online survey through the city's website until July 7th. There are a total of seven buildings the city is considering re-naming for the right price. The proposal will go back to council sometime this summer.
Yahoo
07-06-2025
- Business
- Yahoo
Who gets to pick the new name for the American Bank Center?
(This story was updated to add new information and because an earlier version included an inaccuracy.) Correction: A previous version of this story misstated the timeline by which the city of Corpus Christi and OVG need to come to an agreement over the naming rights for the American Bank Center. Whose name will be emblazoned on what is now the American Bank Center has started a renewed round of debate — but one that remains centered on whether the name the building ultimately bears is Thomas J. Henry Law. In news releases issued June 4 and June 5, the high-profile personal injury attorney suggested that his offer for the naming rights — $1.25 million annually for 10 years — made the most sense. Henry has made his interest in the naming rights of the American Bank Center publicly known for more than a year, as well as his proposed bid — in one news release describing the process as 'mired in needless delay and political interference.' 'There is no other company that has offered—nor is willing or able to offer—a deal of comparable value to the taxpayers,' the news release states. 'Every month this process is delayed is another month of lost revenue for the hardworking families of Corpus Christi.' Henry also suggested in the news release that there were 'growing concerns of political bias obstructing a significant public-private opportunity.' In a message to the Caller-Times, Mayor Paulette Guajardo wrote that the city is 'committed to a fair naming process,' describing the American Bank Center as 'a cornerstone of the city's cultural and economic vibrancy.' The contract between the city and OVG, the American Bank Center's management company, calls for OVG to manage the naming rights process with a final decision 'based on feedback and collaboration between OVG, City Council, and City staff,' she wrote. 'Next week, we expect that feedback to be given,' Guajardo wrote in the June 5 message. 'OVG has a process committed to a transparent and thorough evaluation considering all proposals fairly. Any assertions otherwise are patently false and designed to receive media attention.' The dispute over the naming rights for the landmark building has taken on multiple fronts, to include the process in which a decision is reached and who makes the decision. OVG representatives did not immediately respond to a message sent by the Caller-Times, but city officials confirmed that Henry's is one of two proposals for the naming rights. Information was not immediately available about the second company or its proposal amount. American Bank has sponsored the taxpayer-owned entertainment venue on Shoreline Boulevard for about 20 years but announced in April 2024 its intent to end the partnership. It was initially thought the center would shed its American Bank name in September 2024. There have been several extensions since then, City Manager Peter Zanoni told the Caller-Times. In a memo, he wrote that staff was in process of scheduling meetings between City Council members and OVG representatives. They are intended 'to ensure OVG is available to answer questions from City Council Members interested in this topic' and to allow city officials 'to ask more detailed questions about their naming rights process, recommendations, alternatives, and next steps,' Zanoni wrote in the memo. 'Feedback from Council Members is a crucial part of OVG's decision-making process for the naming rights.' He told the Caller-Times that OVG engaged with about 100 entities over the past two years as part of its naming rights process, with less than a dozen considered to be serious contenders. May 31 was the last call for proposals, Zanoni said, adding that the city and OVG need to come to an agreement in the near future. Options described by Zanoni include: selecting a naming rights partner, starting the naming rights process over again, requesting an additional extension with American Bank, forgoing a name entirely or picking a general name for the venue that is not associated with a naming rights partner. The current contract with American Bank expires at the end of August, he added, at which point there will be a 30-day timeline in which signage must be removed. While some council members have voiced support for Henry's offer — City Councilman Eric Cantu issued a news release fully backing the attorney and 'a transformational deal for a city asset that needs it' — others have questioned what they consider to be a push for a potentially hurried process. 'It would seem to me that whatever is the best solution today will also be the best solution next week and next month,' said City Councilman Mark Scott. 'So I'm fascinated by what I perceive to be as pressure to rush to a decision.' Henry's bid far outweighs the other proposal, Cantu said, asserting that politics are obstructing moving forward with the process. In his news release, he pointed out that the 'city of Corpus Christi is facing a serious budget shortfall.' The deficit was last estimated to be about $7 million. 'It's just sad — this man has money from his business and wants to invest in Corpus Christi,' Cantu told the Caller-Times. 'We should be happy that he wants to invest in Corpus Christi and give us that much money to put his name on a building.' Henry's news release named Guajardo, Scott and City Councilman Roland Barrera as continuing 'to stand in the way of progress.' Barrera asserted that Henry is 'utilizing the press to try to manipulate the narrative and manipulate negotiations,' in part referencing statements in Henry's news release accusing council members of 'interference.' 'I just don't know how you negotiate in good faith with a partner that's actually painting themselves as the victim and (making) statements like that,' he said. 'It's just a nonstarter for me.' The exact balance of the roles that OVG and the City Council play in determining the naming rights wasn't immediately clear June 5; however, the management company wrote in an email to the Caller-Times last year that it was 'leading the selection process for the naming rights partner, and the decision will be made in collaboration with the City of Corpus Christi.' Cantu wants the discussion about the naming rights to be held publicly in the June 10 council meeting, and has criticized the contract with OVG, asserting the decision should be solely the council's. Scott said he was seeking to be 'fully informed and make sure the council's fully informed of all the relative data points that lead to a decision.' 'It's not obstruction,' he said. 'I think it's just making sure that we make the right decision with the right information.' More: American Bank is parting ways with American Bank Center This article originally appeared on Corpus Christi Caller Times: Who gets to pick the new name for the American Bank Center?
CTV News
24-05-2025
- Business
- CTV News
Edmonton councillors vote no to naming rights of city facilities
Edmonton councillors have decided not to allow the sale of naming rights to city buildings. The decision comes after Mayor Amarjeet Sohi reversed his position on naming rights on city facilities on Wednesday, saying there was pushback from the public. The 10-year sponsorship deal with Booster Juice for the Terwillegar Rec Centre will stay for the length of its contract. The city will allow deals for amenities inside facilities, like pools or rinks, to have a sponsored name. But not for the outside of the building. Sohi said earlier in the week that revenue was not worth the sale of civic pride. Some councillors said the city should be open to finding any revenue source. With files from CTV News Edmonton's Jeremy Thompson
CTV News
22-05-2025
- Business
- CTV News
City council to decide on sale of facilities' naming rights by week's end
Edmonton's mayor says he has reversed his position on selling naming rights to city facilities after getting pushback from the public. The City of Edmonton has a 10-year sponsorship deal with Booster Juice for the Terwillegar Rec Centre. That deal will stay. City council is now debating whether to allow similar sponsorships for five other recreation centres – Meadows, Clareview, Commonwealth, Kinsmen and the new Coronation Velodrome once it opens. City staff estimate selling naming rights to 25 facilities could bring in about $2 million a year, including the Booster Juice deal. Mayor Amarjeet Sohi says that meagre revenue isn't worth the trade-off in civic pride. 'The community they are in, that should be the dominant name on the facility. not at the end of a sentence or a name. That's the feedback I got,' Sohi told media on Wednesday. Other city facilities such as Commonwealth Stadium could still be on the table for corporate naming rights as could smaller facilities such as community arenas. Some councillors say the city should try to find revenue anywhere it can. City council is expected to make a decision on naming rights by the end of the week. With files from CTV News Edmonton's Jeremy Thompson
