Welcome To Farmville: Royal Farms Agrees To Naming-Rights Deal For Baltimore Arena

Baltimore-based convenience store chain Royal Farms has "agreed to pay $250,000 per year for five year" to acquire the naming rights to the 14,000-seat Baltimore Arena, according to Natalie Sherman of the Baltimore SUN. The city will vote tomorrow on whether to accept the deal, which would "go into effect Nov. 1" if approved. The agreement gives Royal Farms "first crack at negotiating a new naming rights deal, even if the facility relocates or is redeveloped." SMG Holdings, which manages the arena, would get $200,000 of the $1.25M contract, with $50,000 "for a 'finder's fee' and the remaining $150,000 to be dedicated to signage" (Baltimore SUN, 9/16). In Baltimore, Ryan Sharrow noted the deal ends a "more than 18-month search for a new partner." The deal with Royal Farms is "significantly larger" than that of previous naming-rights holder First Mariner Bank. The Baltimore-based bank signed a 10-year deal worth a total of $750,000 that expired at the end of '12 (BIZJOURNALS.com, 9/15).