The XL Center is now People's Bank Arena. *nm* | Page 5 | The Boneyard

The XL Center is now People's Bank Arena. *nm*

CL82 said:
Angry Old Man GIF by Stad Genk

"Peoples Bank? Sounds like a communist Chinese company. Damn Commies are taking over everything!"
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Or where Dwayne Johnson's wrestling alter-ego deposits his money.
 
freescooter said:
It is located in one of the worlds great banking centers, Holyoke Massachusetts. Across the street from the Holyoke Mall. And it’s the largest bank in… well south western Massachusetts. But they do have a number of ATMS in Connecticut Walgreens locations, so there is that. Apparently the Danbury Municipal Emploees Credit Union was already committed.
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It’s all about the CDRA getting a favorable loan relationship with them on unrelated projects. Year 1 should have been at least $3 million dollars given our championship caliber teams rather than $850k, if we went with a known publicly traded company.
 
auror said:
Providence got 900k a year for Amica Mutual Pavilion and we're getting 2 mil for PBA. Way too much whinging about the value CT companies see in the civic center.
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We are getting $850k in year 1. Nothing about this offseason other than the team itself has been transparent.
 
Chief00 said:
It’s all about the CDRA getting a favorable loan relationship with them on unrelated projects. Year 1 should have been at least $3 million dollars given our championship caliber teams rather than $850k, if we went with a known publicly traded company.
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What a shame. If they could have only had you help negotiate the naming rights. Who knew?
 
IMG_0536.jpeg

Above is publicly available information from CT Insider. Webster Bank has 13x’s more assets.
 
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Again I give the bank credit for swinging for the fences even if that often leads to a strike out. What was missing was an independent national campaign to get the most dollars /publicity for naming rights/branding.
 
How many 10 year deals go from $850k in year one, to $2.4 million in year ten, the final year. That’s an almost 300% increase. It almost seems they are rolling the dice to get bigger to comfortable make that payment in ten years. Who would do that deal on this end? Where in finance you want money sooner rather than later, as a guiding concept.
 
huskymedic said:
The facility will be a construction site for the first 5+ months of the new agreement. It’s still $20m over the life of the 10 year agreement.
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lol - they have the naming rights from day 1.
 
Scoe said:
It was always the Civic Center and always will be the Civic Center.
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The Hartford Civic Center. The more things change the more "we the people" should refer to it by it's original name. The Washington Redskins. The Cleveland Indians.
 
huskymedic said:
… right, and how much promotion/eyeballs on the name is going to happen in an empty building? They’ve been floating the $2m/yr number since XL Contract wasn’t being renewed - they hit # over the life of the contract. I wanna see what the naming rights for indoor premium/event spaces are going for - chunk of change there. Not all is evil.
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You can put the lipstick on the pig, but in year #1 to get less money off 3 NC’s ($850,000) than PC ($900,000) is a terrible result. We are a national brand, they are not.
I am familar with some deals elsewhere in the country and this is not a good deal. I did not call it evil, those are your words. From a business perspective this is a d+/d grade. Stuff can happen before the end of a ten year deal. So to get 42% of the average in year 1 is not a good start. How often can you promote a naming rights off 3 national championships in 3 years? This was a golden opportunity wasted.
 
Alum86 said:
Their money will help refurbish the lower bowl.
View attachment 109969
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I know this is supposed to be funny, but the reality is that a new building is not happening. Just like a new football stadium is not happening. People get so bitter about it. I'm happy that at least they are doing something to improve both facilities. It's better than doing nothing.
 
Chief00 said:
You can put the lipstick on the pig, but in year #1 to get less money off 3 NC’s ($850,000) than PC ($900,000) is a terrible result. We are a national brand, they are not.
I am familar with some deals elsewhere in the country and this is not a good deal. I did not call it evil, those are your words. From a business perspective this is a d+/d grade. Stuff can happen before the end of a ten year deal. So to get 42% of the average in year 1 is not a good start. How often can you promote a naming rights off 3 national championships in 3 years? This was a golden opportunity wasted.
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Not really. All the deals are structured a little differently. Anyway, the last 6 months has led to tremendous uncertainty in the business world. I’m pretty sure we’re going to see more deals that seem a little on the low side. Money isn’t flowing like it was a couple of years ago.
 
Hoophound said:
Not really. All the deals are structured a little differently. Anyway, the last 6 months has led to tremendous uncertainty in the business world. I’m pretty sure we’re going to see more deals that seem a little on the low side. Money isn’t flowing like it was a couple of years ago.
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We can do better than achieve PC levels and I have some very good PC friends
 
Chief00 said:
We can do better than achieve PC levels and I have some very good PC friends
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I’m done with worrying about the Joneses. Let’s do UConn, overall I think they’re pretty good at it right now.
 
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