It’s about time. The 10-year-old Arena at Harbor Yard has landed Webster Bank for the naming rights, $3.5 million for 10 years! From the arena:
Bridgeport’s Arena is Renamed Webster Bank Arena at Harbor Yard
BRIDGEPORT, Conn., January 6, 2011 – Webster Bank, a leading New England commercial bank, has entered into a ten-year naming rights agreement for the Arena at Harbor Yard in Bridgeport, Connecticut with Centerplate. Effective immediately, the Arena will be named Webster Bank Arena at Harbor Yard.
Centerplate is responsible for managing and marketing the arena for the City of Bridgeport and is also the leading hospitality provider to North America’s premier sports and convention centers.
“We are extremely proud and pleased to welcome Webster Bank as the naming rights sponsor for our Arena at Harbor Yard,” said Mayor Bill Finch. “This is a great day for the City and for the bank.”
In exchange for the naming rights investment, Webster Bank will be featured prominently in signage, including a new full-color outdoor marquee. There will also be signage facing the harbor and visible from the Long Island Ferry and the Metro North Railroad Station, and another facing the northbound side of Interstate 95.
“We’re delighted to demonstrate Webster’s commitment to Connecticut’s largest city and to have the Webster Bank brand paired so prominently with this spectacular entertainment venue in the heart of the Park City,” said Michelle Crecca, Webster Bank’s chief marketing officer. “This is an extraordinary opportunity for us to create a multi-faceted, long-term Webster brand experience – not only with the people who attend a game or a show, but with city residents and commuters who will see the Webster name from Interstate 95, the train station and the ferry landing.”
In addition to the exterior building signage, Webster Bank will appear on highway directional signage, at the box offices, on either end of the basketball court, and within the center ice location whenever ice hockey is in operation. The agreement also provides Webster Bank with the exclusive rights to install Webster ATMs in the arena concourse. Webster will also receive digital messaging rights, promotional exposure in brochures, collateral materials and websites, and premium hospitality options.
“We are delighted to have found the ideal naming rights partner for this signature Bridgeport property,” said Des Hague, President and CEO of Centerplate. “Together with Webster Bank, we have crafted a platform to engage consumers and provide a meaningful benefit to Bridgeport and its citizens.”
About Webster:
Webster Financial Corporation is the holding company for Webster Bank, National Association. With $17.8 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust and investment services through 181 banking offices, 497 ATMs, mobile banking, the Customer Care Center, and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, and the equipment finance firm Webster Capital Finance, and provides health savings account, trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit Webster’s website at www.websterbank.com.
About Centerplate:
Centerplate crafts and delivers “Craveable Experiences. Raveable Results.” in 250 prominent sports, entertainment and convention venues across North America. Centerplate has provided services to 12 Super Bowls, 20 World Series, key events for the Democratic and Republican National Conventions, the South Beach Wine and Food Festival, Art Basel Miami Beach, 15 official U.S. Presidential Inaugural Balls and the largest plated dinner in history at the Alpha Kappa Alpha Centennial Celebration. Visit the company online at centerplate.com.
People’s dropped the ball on this one. How much and for how long is this deal? Congratulations to all parties.
$3.5 million for 10 years … hasn’t Lennie been explaining the importance of a corporate sponsor for the Arena in this fashion for some time now???
To Webster Bank: Thank You.
It is certainly better for the City to take advantage of a naming opportunity for a public building than to ignore one assuming the net return is there for these rights.
Whether Webster Bank gets enough bang for its buck of the positive variety is a different question. Although from the number of ways the name, Webster, can be presented, will people think of Webster Arena or continue the notion, the Arena at Harbor Yard? And if the City’s financial and economic issues continue to aggravate (or worsen) what is the value (or cost) of attaching your proud financial brand with a City that can’t float financially without artificial supports? That’s not a positive, were it to occur.
As to People’s it would seem their brand appears downtown as well as visible from I-95 on the most impressive major building downtown. As they grow throughout New England and into the Middle Atlantic branding needs probably appear elsewhere.
So I guess that $3,500,000 relates to $350,000 per year for 10 years in new gross revenues. And I assume there are no deducts from that to cover the expenses of providing the variety of promotion mentioned in the article, though that is not clear.
And $350,000 per year is about the amount that ten or eleven residences similar to what Comeback America’s David Walker mentioned in his letter to the CT Post in September 2009 upon moving in, might raise in tax revenue. And since additions to the Grand List of this type have been rare, this revenue source is sure to be welcomed.
And that starts me thinking, what if the City Council chamber had naming rights, would a corporate logo for a North End restaurant be raised behind Mayor Finch when he is presiding?
Or having visited Providence RI last weekend where Dunkin Donuts Center is downtown in the Convention Center complex, do you think DD would be interested in a sign on the Police Department and its annex facilities in Bridgeport?
I invite suggestions for other naming possibilities. With City employees on furlough, vacation, sick days, etc. they should welcome such alternatives from our audience.
There should be a big sign behind Mayor Finch or better yet when Council Prez McCarthy is filling in: “Mario’s Place, home of the Calamarians.”
*** There’s more than meets the eye, no? ***
Lennie please clarify all this money does not go to the city I believe and if it does Birdman will hire 10 cronies at $35,000 apiece.
As a People’s United stock holder … I am glad they didn’t waste my money. Good job People’s. I am sure you are laughing all the way to the … bank.
*** Don’t believe the hype, it’s only window dressing for Bpt revenue. ***