Photo courtesy of: memorialcentre.ca
City Council has decided against pursuing the sale of naming rights for the Peterborough Memorial Centre, opting to reject an unsolicited request to purchase the rights.
During its meeting on Monday, Council confirmed it is not interested in making the facility’s naming rights available for sale.
Under the City’s Sponsorship Policy, any decision to proceed would have required consultations with advisory committees, stakeholder groups like the Peterborough Petes, and formal Council approval to add the asset to the Sponsorship Asset Inventory.
Staff estimated a naming rights sponsorship could generate net revenues of $750,000 to $1.5 million over a 10-year term, based on comparable municipal facilities. However, Council’s decision ensures the facility’s current name will remain unchanged, pending ratification.
