A local insurance agency has bought the naming rights to a new arena in Bangor, Maine, that is scheduled to open next year.
The arena will be known as Cross Insurance Center under a $3 million, 15-year agreement between the city and the company.
The Bangor Daily News reported that the deal calls for Cross to make quarterly payments of $50,000 for the naming rights, as well as an exclusive 12-month renegotiation period 12 years into the deal that allows Cross to extend its contract by as many as 10 years.
The $65 million, 5,800-seat arena and events center is expected to officially open on Labor Day weekend in 2013.
Copyright 2025 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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