Naming Rights Deal For ESA Will Not Be Finalized Until Next Week
Posted September 6, 2002 3:33 a.m. EDT
RALEIGH, N.C. — It will be another week before a naming rights deal for the Entertainment and Sports Arena in Raleigh is inked.
RBC Centura Bank is expected to sign a $80 million deal next Friday to put its name on the arena. Sources close to the negotiations say the arena will be called the "RBC Center" by the time hockey season starts in October.
The deal was scheduled for approval Friday, but lawyers for the Centennial Authority asked for more time to make minor changes to the contract.
"They found a couple of things they wanted to change that I would characterize as not substantive, more procedural related to the [Centennial] Authority, not to the naming rights agreement itself, so they asked us and the naming rights partner if they could put off the meeting for a day or two," said Jim Cain, president of the Carolina Hurricanes.
The naming rights partners decided to put off the meeting until after the anniversary of Sept. 11. Hurricanes officials are so confident the deal will be approved, they are already designing and producing signs for the arena.