BRADLEY CENTER, home arena of the National Basketball Association (NBA) Milwaukee Bucks franchise, will be renamed the BMO Harris Bradley Center thanks to a new naming rights deal.
The agreement will see the financial services company name the venue for the next six years. Based on similar naming rights deals in the NBA, Frontloaded values the deal at around $12m, or $2m per year.
Naming rights to the Bradley Center were first tendered four years ago, but plans were halted after the philanthropist who funded the building of the venue, at a cost of $90m, publicly opposed the move to allow a corporate brand to name it.
However, with the arena in serious need of upgrades and investment to maintain it as a premier sports venue in one of America’s four major sports leagues, Bradley Center officials convinced the investors of the necessity of financial aid from a naming rights partner.
The sponsorship from BMO Harris represents the largest contribution from a host of Milwaukee-area companies which have committed to pledge $18m in support of the sports arena over the next seven years, after which the plan is to find a new home for the Bucks franchise.
Under the terms of its agreement, BMO Harris Bank will establish the BMO Harris Boys & Girls Club programme, which will set aside seats at Bucks home games for non-profit organisations in the Milwaukee area.
BMO Harris signage is expected to be added the outside of the arena in the coming weeks, as well at various points inside including on the venue’s main scoreboard.
Likely to be responsible for sponsorship negotiations for BMO Harris Bank is Stacy Schoen, Vice President, US Regional Sponsorship Manager.
By Luke Harman
Follow Luke on Twitter: @lukeharmanSBG