Can anyone say Paychex Arena?

[Buffarama]

Get used to it. If Tommy gets the team, the arena name will be the jewel in his crown.

[Sabre Ally]

Isn't that better than Empty Arena?

[Dozerdog]

Didn't HSBC sign a contract for the naming rights? Didn't they send a check for $ 24 Million? They are stuck with that name for another 27 years

[Dozerdog]

If you are interested Ad Age, a trade paper, did a story on over 50 venues and what their naming rights fees were. .....HERE


(You Need Adobe Acrobat reader)

[Buffarama]

Wow nice link Dozer. What do you suppose ever happened to that 24 million in 1999?


HSBC ARENA, Buffalo H: NHL Sabres S:HSBC USA N: opened in 1996;
name changed in 1999 in a $24 million, 30-year deal. C: Renamed
facility in a small market.

But how does the bankruptcy affect the naming rights.

[Dozerdog]

Why would it?

If you paid $24 Million to rename the Arena "Bob's place" and one of the tennants went under- why would they revolk the rights?

In NE the stadium was called CMGI field, but CMGI went under- Gillette was re-sold the rights . HSBC isn't going under. They own the name. It has nothing to do with the Sabres

[Buffarama]

I'm curious as to whether that 24 million was paid and gone as a lump sum, or whether it is an annual payment. If it was paid up front, it could be attributed to Riga's thievery. I can't believe they gave the name away for 30 freakin years for that little.
Reason being I would like to know how the Sabres lost money that year if it was paid up front, which if my memory serves me was the Final's year.
Hey everyone lighten up, I'm not arguing with you.

[Dozerdog]

Usually these deals are not a lump sum-

Enron Field was renamed because the Astros had an out- they were late with payments voiding the contract.


Some interesting niotes from an article on companies that went under after they named stadiums-

Corporate America's accounting comeuppance has caused several cities to enact emergency name changes on their sporting venues. Houston's erstwhile Enron Field is now named for Minute Maid. Nashville's Adelphia Coliseum has been abbreviated to The Coliseum until a new sponsor surfaces.

TWA's bankruptcy forced St. Louis to resell the name of its domed stadium. Savvis Communications, which purchased naming rights to St. Louis' downtown arena, subsequently defaulted on its payment schedule. A similar story was told in Baltimore after the dot.com bubble burst.

http://www.signonsandiego.com/sports/sullivan/20030118-9999_1s18sullivan.html

Adelphia went belly up- and they no longer are in the stadium name game either

[Numero2]

One of the things that was part of the Golisano bid was that HSBC was to give up naming rights.