October 4th, 2013
Broome putting Arena naming rights up for sale
By Steve Reilly
BINGHAMTON — Broome County officials are putting naming rights for the Broome County Veterans Memorial Arena up for sale. The Broome County Division of Purchasing late last month released a request for proposals from parties interested in a naming rights sponsorship at the county-owned arena, the Southern Tier’s largest sports and entertainment venue. “The county is looking at all reasonable ways to generate revenue to continue and expand new and exciting entertainment at the arena,” said Deputy County Executive Bijoy Datta. “Selling naming rights is one way that many publicly owned venues have generated revenue elsewhere upstate and across the nation.”
The county’s 23-page request for proposal document suggests a minimum annual payment of $50,000 over a 10-year period as the baseline for proposals.
Bids are due to Broome County by Oct. 30, and a vote by the Broome County Legislature would be required before the name change takes effect. The sponsor would be required to purchase and maintain the new signage.