'Times Union' of Albany Buys Naming Rights to Local Arena

Posted Thursday, May 4, 2006 12:00 am

By: The Times Union of Albany has agreed to pay $3.5 million over 10 years for naming rights at a 17,500-seat arena that hosts sports, entertainment and marketing events.

The deal calls for the newspaper to pay Albany County $350,000 annually to rename the former Pepsi Arena "Times Union Center," county officials said Thursday.

The agreement came after a deadline passed without any bids and the payments are the minimum the county said it would accept. Pepsi, which held the naming rights for the past decade, declined to renew the arrangement.

Times Union Publisher Mark E. Aldam said the change takes effect Jan. 1, 2007. The Times Union is owned by Hearst Corp.

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'Times Union' of Albany Buys Naming Rights to Local Arena

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