ALBANY — The previous Knickerbocker Area will get a fourth identify in its fourth decade of operation.
The Occasions Union newspaper introduced Wednesday that it received’t prolong its naming rights settlement on the downtown Albany sports activities/efficiency/occasion venue that has borne its identify since 2007.
The settlement expires Thursday night time however the county-owned facility will proceed to be referred to as the Occasions Union Middle via the tip of the 12 months as new proposals are hunted for naming rights.
The ability was constructed within the late Nineteen Eighties at a value of $69 million. A Frank Sinatra live performance in January 1990 was the primary public occasion held within the new Knickerbocker Area.
In 1997, it turned the Pepsi Area. In 2006, the Colonie-based newspaper purchased the naming rights for 10 years, then prolonged the deal for 5 extra years in 2016.
Such agreements present cash for a venue’s proprietor and visibility for the sponsor. On this case, the newspaper additionally gained visitors on its web site.
The Occasions Union, a part of the nationwide Hearst media empire, was paying $350,000 a 12 months for the correct to place its identify on the venue.
Writer and CEO George R. Hearst III stated Wednesday the newspaper appreciates its 15-year partnership with the county however has determined to develop its visibility in different methods.
It stated it will proceed to sponsor occasions such because the Aurora Video games and the House Expo on the area.
Albany County Govt Daniel McCoy thanked the newspaper for its help and stated a request for proposals for naming rights can be issued shortly.
So until it reverts to “Knickerbocker,” the sector quickly can have its fourth identify.
Extra from The Day by day Gazette:
Classes: Enterprise, Information