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GENERAL MOTORS GOES FOR NAMING RIGHTS TWO- FER IN CANADA
Published October 27, 1994
GM is one of six major corporations that are bidding to have the Raptor's new arena named after their company. GM has already affixed its identity to the new home of the Vancouver Grizzlies and Canucks, GM Place, which is under construction. A source close to GM said that a deal should be "tied up" by the end of November: "I know we're first in line." The source added that they were "not sure" whether an agreement would include exclusivity and/or floor signage." An agreement on the naming rights is expected to cost tens of millions. A former arena exec pegged the value of such a contract at more than $1M per year, with "significant" payment up front. It is believed the arena agreement with Northwest, the Grizzlies' parent company, is worth more than $20M (Craig Daniels, TORONTO SUN, 10/27).