BINGHAMTON, NY – The Broome County Veterans Memorial Arena will soon have a new name.
Visions Federal Credit Union has agreed to a 10 year deal for naming rights on the sports and entertainment complex in downtown Binghamton.
The current sponsor, Maines Paper and Food, chose not to renew its deal when it ran out this year.
The Visions deal is for $60,000 a year which is slightly less than the $75,000 that Maines was paying.
However, the Visions deal has a clause that would double the annual sponsorship to $120,000 should the county move forward with $20 million dollars worth of renovations to the nearly 50 year-old facility.
Visions also retains naming rights to the box offices at the Arena and Forum and will establish a $126,000 annual reserve account dedicated to increasing the number of live events held at each venue and will assist with marketing.
No word yet on what the exact new name of the Arena will be but Visions will be responsible for installing the signage.
Should the Broome County Legislature approve the deal, it would go into effect January 1st.