Naming rights for XL Center expire; venue likely to change name in 2025. | Page 3 | The Boneyard

Naming rights for XL Center expire; venue likely to change name in 2025.

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What are the largest companies in the Hartford area now - none of them are really consumer names right? Aetna, Travelers, Pratt & Whitney (UT), The Hartford, ESPN. Haha, the ESPN center. That would be so funny.
 
HooperScooper said:
From the Courant article:

Michael W. Freimuth, executive director of the Capital Region Development Authority, said the XL Group naming rights contract ranged from $450,000 to $500,000 a year. The value dipped during Covid and when University of Connecticut’s basketball program left the Big East, Freimuth said.
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Wow, only 500k. That doesn’t seem like much for naming rights.
 
Maybe the Boneyard can take up a collection and buy the naming rights.

Now that would be funny!
 
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Shortcut <<

-> XL’s most recent deal with the arena expires in June of 2025, and the company does not plan to renew. A new sponsor could pay more than XL’s current $500,000-per-year deal for rights to name a revamped arena, said Ben Weiss, general manager with the Oak View Group, the arena’s operator.

“Our team’s got a really good handle on the valuation of what it should be, and the power of content that’s in the building now,” Weiss said. “The good news is the timing seems to be just right with the $145 million rebirth of the facility.”

Interest has been high from companies seeking naming rights, Weiss said. “We’re actively talking to multiple potential partners,” he said. “Hopefully early in ’25 we’ll have some positive news to share.” Cigna is among the companies with local operations said to be asking about the naming rights, CRDA board member Andy Bessette said on

Another sponsorship deal is being sought for the new upscale club planned for inside the arena. Large enough to host 800 people, the event-level club is designed with banquette seating, a full bar and multiple big screens.

“We would love to have a local, regional, national partner on that club,” Weiss said. <-
 
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AidanFan20 said:
If the enlarged the arena, it could be XXL Arena.

I'll show myself out...
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Look There This Way GIF by Sesame Street
 
It will be interesting to see if city and or metro area populations play a significant part in the naming rights for New England arenas. Worcester has the second highest population after Boston in NE but its msa is just fifth. Providence has the third largest population but it's metro is #2. Hartford has the eighth city pop but third metro pop.

Worcester (#2) 206,518 MSA (#5) 862,111
Providence (#3) 190,934 MSA (#2) 1,676,579
Hartford (#8) 121,054 MSA (#3) 1,214,295
 
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TJT said:
It will be interesting to see if city and or metro area populations play a significant part in the naming rights for New England arenas. Worcester has the second highest population after Boston in NE but its msa is just fifth. Providence has the third largest population but it's metro is #2. Hartford has the eighth city pop but third metro pop.
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I’m sure it’s the metro that matters. Hartford proper’s population is irrelevant. Boston is a similar situation on a grander scale. Huge market, relatively small population for the city proper.
 
Hoophound said:
I’m sure it’s the metro that matters. Hartford proper’s population is irrelevant. Boston is a similar situation on a grander scale. Huge market, relatively small population for the city proper.
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Also how many events at the arena? The more events the more the arena is being talked about, out in the press, etc. How many times a year is the XL Center used? How many people go there each year? I think that's just as important as the metro population. Maybe more so.
 
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HooperScooper said:
Also how many events at the arena? The more events the more the arena is being talked about, out in the press, etc. How many times a year is the XL Center used? How many people go there each year? I think that's just as important as the metro population. Maybe more so.
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And another driver is the national exposure the name gets via tv and news stories. Whether a national/consumer products company would want that benefit will be intersting to see. The Travelers Center? The CVS Center? The Subway Center? Who knows.
 
HooperScooper said:
Have to imagine the Hartford arena is worth more than the Worcester arena. I'll be curious to see what the new deal is.
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Value of this deal is largely derivative of the value of UConn basketball. That's a whole lot of impressions via the TV broadcast of the games.
 
CL82 said:
Value of this deal is largely derivative of the value of UConn basketball. That's a whole lot of impressions via the TV broadcast of the games.
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Only 8 games a year though. How much is that worth? Think about how many games the Celtics and Bruins play a year at the TD Garden compared to that.
 
HooperScooper said:
Only 8 games a year though. How much is that worth? Think about how many games the Celtics and Bruins play a year at the TD Garden compared to that.
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Well, it's double that if you include women's games.

Fully agree that TD Garden is significantly more valuable, but that's not the comparison being discussed. It was Worcester versus the XL center.
 
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CL82 said:
Well, it's double that if you include women's games.

Fully agree that TD Garden is significantly more valuable, but that's not the comparison being discussed. It was Worcester versus the XL center.
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I don't know how many events annually the DCU Center has but they have no high profile sports. Their main sports tenant is the Worcester Railers, a minor league hockey team which is an affiliate of the Islanders.
 
HooperScooper said:
I don't know how many events annually the DCU Center has but they have no high profile sports. Their main sports tenant is the Worcester Railers, a minor league hockey team which is an affiliate of the Islanders.
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Exactly. That's why I don't think it is a comparable for the naming rates for the current XL Center.
 
The Calhoun Center seems like a logical choice. The impact Calhoun has had on BB and sports in CT for the past 40 years can't be understated.The guy is still a spokesman for UConn and CT. There are many stadiums named after people.
 
CL82 said:
Exactly. That's why I don't think it is a comparable for the naming rates for the current XL Center.
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I agree. Somewhere between the DCU Center and the TD Garden but much closer to the DCU Center. I'll be interested to see what they can get.
 
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