Stadium Naming

I remember naming rights to SIUC's football and basketball stadiums were included as part of the Saluki Way funding tax. The original estimate to purchase the naming rights was up to $10 million, however they wound up going, about a decade after the original proposal was passed, for about $4-$5 million. I spoke with a couple of other bankers in the area last year after the rights were sold and they could not see how Banterra would get enough benefit from the naming rights to the Arena to justify the $4 million paid

SIU Arena Naming

In case you missed it, Banterra Bank bought the naming rights to the SIUC Arena for $4 million over the next 10 years, with the possibility of another million if enough people sign up for SIUC credit cards issues by Banterra. I talked with one other banker I know who said that, not only did they not get offered the opportunity to buy the rights to the Arena but were quite glad that SIUC had not approached them as they do not think Banterra will get enough value out of the naming rights to justify a $4 million payment.