PepsiCo. has been recommended as the title sponsor for
Knickerbocker Arena, to be renamed Pepsi Arena, in Albany, NY.
Pepsi's proposal for the naming rights included a bid of $300,000
per year ($3M total over a 10-year contract), and it will print
arena event information on PepsiCo cans, cups and 12-packs
throughout the Northeast. Pepsi already leases a corporate
suite, sponsors arena events, and holds an exclusive pouring
rights contract for concessions. In its naming rights proposal,
Pepsi has agreed to invest a minimum of $20,000 per year to
sponsor future arena events and will extend its pouring rights
contract for the duration of the 10-year deal, bringing in an
additional $900,000 over ten years. The company will also lease
a second corporate suite for $40,000 a year for the term of the
agreement. Pepsi's total proposal amounts to $4.5M in payments
and $3.5M in broadcast promotional ads, in addition to print ads
on Pepsi products. Knickerbocker Arena is owned and operated by
the County of Albany, and the naming rights proposal will be
considered by the Albany County Legislature (Knickerbocker).