City, Tribute keeping quiet on naming rights contract
With arena moniker officially changed, city and Tribute Communities remain tight lipped on renaming costs
With the remnants of the now former General Motors Centre removed from the building, the city’s downtown arena is now officially the Tribute Communities Centre. However, the city is not released the financial details of the deal that sees the developer’s name take over as the moniker of the arena.
By Joel Wittnebel/The Oshawa Express
With the signage replaced, it is official – the General Motors Centre is no more. However, the agreement that led to the arena’s new moniker, the Tribute Communities Centre, is being kept in the dark.
Sources claim that the city is receiving $250,000 annually over the next 10 years as part of the new naming rights agreement signed with Tribute Communities. However, neither side seems willing to confirm that amount.
City manager Jag Sharma called the document a “fantastic contract,” but would not comment on the details, although he did say the contact was complete.
“It is much more representative of what would be the market value, but once again it is a confidential document,” he tells The Oshawa Express.
When pressed for details and asked why the details are being kept from city residents, Sharma said it “is not necessarily a matter of opinion.”
“It’s a matter of process and once again, the document is currently confidential, so there is very limited I can say about it,” he said.
He would also not confirm whether the document or any of the details would eventually be released to the public.
“I’m not in a position to tell you whether it will or will not. I don’t know at this point in time what will cause it to become public.”
Calls to Steven Libfeld, Tribute Communities’ CEO, were not returned as of The Express’ press deadline.
In the past, the details of previous name changes for similar arenas and entertainment complexes have been a matter of public knowledge. In 2014, when the Copps Colisum in Hamilton was renamed to the FirstOntario Centre, it was reported that the company would be paying $3.4 million over 10 years. Similarly for the K-Rock Centre in Kingston, where the radio station purchased the naming rights in 2008 for $3.3 million in 2008 for 10 years. The same year, the home of the Soo Greyhounds was renamed to the Essar Centre in a $1.5 million, 10 year contract.
Mayor John Henry, however, says that the reason the deal is not being made public is due to the fact that it isn’t complete, despite Sharma’s comments.
“It hasn’t been signed by all parties,” he says, noting that the Oshawa Generals still have not signed the document.
Henry would also not confirm the final amount, but noted it was “a good deal for the municipality.”