Comcast Corp., which previously acquired naming rights
to the Univ. of MD's (UM) new $101M basketball arena for
$20M (see THE DAILY, 1/5), announced yesterday that it "has
exercised an option to pay an additional" $5M for the naming
rights to the arena floor, according to Josh Barr of the
WASHINGTON POST. The arena, to be called Comcast Center, is
scheduled to open in the summer of 2002. Earlier this week,
Comcast also purchased DC-based RSN HTS, which "has an
agreement" with Jefferson-Pilot/Raycom to air "several" ACC
men's basketball games in the 2000-01 season. Barr: "Given
Comcast's stake in Washington-Baltimore area cable systems
as well as in the arena, it appears likely Comcast could try
to have more Maryland games included in the HTS package."
Comcast spokesperson Mitchell Schmale said, "I don't think
there are any plans for that as of now. But I think that,
moving forward, Comcast will look to see what is possible to
get as many games as possible on the air." Through the deal
with the state government, UM's share of the cost of the
arena is $45M, with the remaining $20M of the univ.'s share
being raised "primarily through the sale of tax-deductible
donations for preferred seating" in 1,800 seats, "an
arrangement that is similar" to a PSL (WASHINGTON POST,
7/13). The deal becomes the largest known corporate naming
gift in the U.S. for a collegiate athletic facility and is
the largest single donation to UM (Comcast).
