Naming Rights
Although not obvious from the centre's name, Mile One Centre is among the many North American sports venues that have raised funds by selling their naming rights. In the case of Mile One, brewing company Molson initially acquired the naming rights for ten years (2001 to 2011), as well as other privileges such as being the venue's exclusive beer supplier, for $1.5 million. Molson then resold the naming rights to Danny Williams, then-owner of Cable Atlantic (and later premier of Newfoundland and Labrador), for $600,000. Before the centre opened, however, Williams sold Cable Atlantic to Rogers Communications in order to pursue politics, but retained the naming rights. Ultimately Williams chose to name the centre based on the venue's geography. "Mile One" is a trademark owned by the Williams Family Foundation, not the city, meaning that the centre can only use the "Mile One" name so long as it has the foundation's permission to do so. This implies that if and when Williams's rights expire and are not renewed, the centre might be forced to find a new name, regardless of whether or not a new sponsor is found.
Read more about this topic: Mile One Centre
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