U.S. Bank Arena Will Be Renamed After Company Doesn't Not Renew
U.S. Bank Arena will "get a new name" after the Minneapolis-based company "decided not to renew its naming-rights agreement" for the venue, according to Randy Tucker of the CINCINNATI ENQUIRER. U.S. Bank, which has held the arena's naming rights since '02, said that it "expects the U.S. Bank Arena branding and signage to start coming down next week." U.S. Bank said that it will "continue to have a presence in the facility as part of a new three-year marketing agreement with AEG and Nederlander Entertainment, which own and operate the arena." U.S. Bank bought the naming rights to the former Riverfront Coliseum in '99 when the company was known as Firstar and the arena was called Firstar Center (CINCINNATI ENQUIRER, 8/16). In Cincinnati, Steve Watkins noted the arena's owners "hope to find another naming rights sponsor soon." They announced plans four years ago for a "massive overhaul that could cost" more than $200M, "increase seating for concerts from 18,000 to 18,500, add more than 1,000 club seats and increase suites beyond the 41 it has now to 60 or more." The arena "did win a bid to host" NCAA Tournament games in '22, but that is "contingent on the arena being renovated at least to the point of adding locker rooms and media space" (BIZJOURNALS.com, 8/15).