Naming Rights
Before its construction, the proposed arena was tentatively called "Spectrum II". The Center was originally named for CoreStates Bank, which agreed to pay $40 million over 21 years for the naming rights, with additional terms to be settled later for an additional eight-year period at the end of the contract. However, the contract has gone through multiple hands due to various bank mergers; first by First Union Bank in 1998, Wachovia in 2003, and finally by Wells Fargo in July 2010. Installation of the new Wells Fargo Center branding began on July 27, 2010, with the removal of the Wachovia Center signage, followed by the installation of the new Wells Fargo Center signage. Work was completed in September 2010.
Read more about this topic: Wells Fargo Center (Philadelphia)
Famous quotes containing the words naming and/or rights:
“The night is itself sleep
And what goes on in it, the naming of the wind,
Our notes to each other, always repeated, always the same.”
—John Ashbery (b. 1927)
“The Civil rights of none shall be abridged on account of religious belief or worship, nor shall any national religion be established, nor shall the full and equal rights of conscience be in any manner, or on any pretext, be infringed.”
—James Madison (1751–1836)