Bank of America yesterday reached an agreement with Delaware North Cos., owner of The FleetCenter, to remove the FleetCenter name from the Boston arena. Bank of America bought out Fleet Bank in April, and inherited the naming right’s deal.
The Boston Globe reported that Bank of America will pay $2 to $3 million to terminate the final six years of the 15-year, $30 million deal.
Under the new agreement, the FleetCenter name and logo, including all exterior and in-arena signage, will remain in place until Delaware North has secured a new naming rights partner for the 19,600-seat facility or through Oct. 14, whichever occurs first.
Buffalo-based Delaware North has started the process to decide how to approach a new naming rights deal. The company has not signed an outside group to explore a new deal, FleetCenter spokesman Jim Delaney said.
Hartford, CT-based Shawmut National Corp. in 1994 announced a naming-rights deal for the arena while it was under construction, then merged with Fleet Financial Group months later. The arena took the FleetCenter name when it opened in 1995.
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