The Barrie Molson Centre could have a new name starting next year. At the next Barrie city council general committee meeting, members will debate whether or not to sell the naming rights.
Paul Sadlon Motors Inc. is looking to buy the naming rights to the area for the next 25 years. If the deal goes through, the company would pay $2 million in annual $100,000 installments over the next 20 years.
According to the staff report, the first installment of the naming rights would be used towards the fabrication and installation of the new signage which would read “Sadlon Arena.”
The naming rights for the Barrie Molson Centre had been negotiated in 1994 as part of a land swap deal between the City of Barrie and Molson Canada. In the deal, the city received nine acres of land valued at around $1 million, and in return Molson received naming rights of the facility.
According to the staff report, those naming rights are set to expire Dec. 31, 2018. In September of last year, city staff approached Molson Coors executives with the opportunity to renew their naming rights, however they declined the offer.
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Subsequetly, city staff sent out a press release in January appealing to businesses interested in buying the rights. As a result, eight companies were shortlisted.
According to the staff report, after several discussions and meetings, Paul Sadlon Motors Inc. offered to pay the full amount in the first 20 years of the contract, with the last five years having no payments.
If general committee approves the motion, it will need to be ratified by city council June 18.
If the deal goes through, the Barrie Molson Centre would be called Paul Sadlon Arena until 2043.
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