With future naming rights to the current AmericanAirlines Arena in play, TD Bank is in discussions with Miami-Dade County about putting its name on the Miami Heat‘s home, according to a Miami Herald report.
AmericanAirlines Arena is named as part of a naming-rights agreement with American Airlines that expires at the end of 2019, but the airline confirmed back in September that it is not pursuing an extension. Miami-Dade County is reportedly receiving tangible interest in a future naming-rights agreement from TD Bank, which the Herald reports “has had serious discussions” with the county.
There is not a final agreement in place, and other companies reportedly remain in play as a potential naming-rights partner, but TD Bank’s apparent interest would put at least one high-profile suitor in the mix. More from the Miami Herald:
One source called TD Bank the front-runner, but another cautioned that even though TD Bank is pursuing rights, other companies also remain in the mix to replace American Airlines as the naming rights sponsor for the 19,600-seat facility.
American Airlines confirmed in September that it is not pursuing a renewal of its 20-year deal for naming rights, an arrangement that began when the arena opened. The deal expires Dec. 31, and Miami-Dade County hopes to have a new name on the building as soon as possible.
The original naming-rights agreement was struck with American Airlines prior to the venue’s opening in 1999. It calls for the airline to pay roughly $2.1 million annually as part of a 20-year sponsorship.
RELATED STORIES: American Airlines Unlikely to Renew AmericanAirlines Arena Naming Rights; Heat Write to County Over AmericanAirlines Arena Naming Rights Talks; Miami-Dade Takes Over AmericanAirlines Arena Naming Rights Talks
