The home of the Adirondack Thunder (ECHL) has a new name, as the venue is now known as Cool Insuring Arena. The five-year naming rights partnership with Cool Insuring Agency for the former Glens Falls Civic Center is effective immediately.
Prior to Tuesday’s announcement, the arena-which opened in 1979–had not had a corporate naming rights partner at any point in its history. The agreement to rebrand it as Cool Insuring Arena will run through 2022, and provide the venue with additional revenue going forward.
The financial terms of the deal were not disclosed. However, the sale of naming rights reflects the latest development from the Adirondack Civic Center Coalition to improve Cool Insuring Arena’s longterm financial outlook. More from The Daily Gazette:
The Adirondack Civic Center Coalition, the public-private entity that is the middle of a five-year agreement to acquire the city-owned facility, said the renaming is the next step in the ongoing effort to revitalize the facility and make it profitable.
“We want to keep that venue open and alive. It’s really for the benefit of the people that live here,” said Daniel Burke, president of the coalition.
Terms of the five-year naming deal were not disclosed, Burke said, at the request of the 160-year-old Queensbury insurance firm.
“We’re proud to partner with a great member of our community in Cool Insuring Agency as we are able to name our building for the first time in its 38-year history,” Burke said in a statement that was issued on Tuesday. “We are almost 60 percent of the way to our overall Keep Hockey Here fundraising goal and are excited to move forward as the Cool Insuring Arena.”
The Coalition finalized its purchase of the Thunder from Calgary Sports & Entertainment on June 30, and is still raising funds to reach its $1 million goal in the Keep Hockey Here campaign. “Even though we closed the transaction to purchase the Thunder on June 30 we still have looming financial obligations to fulfill, so more fundraising is critical in the coming months,” Burke added in the statement.
“From day one in 1979 we have been a season ticket holder and dasher board advertiser at the Civic Center,” Cool Insuring agency vice President Jack Bieniek said in the statement. “We are acutely aware of the benefits of what a viable and catalytic entertainment venue means to our hometown community and its local businesses. The employees, management and owners of Cool Insuring Agency are honored to support the Adirondack Civic Center Coalition today and into the future.”
RELATED STORIES: Adirondack Thunder Sold