The CN Centre will keep that name for at least the next five years.
At tonight’s (Monday) meeting, Prince George City Council approved the financial terms of the 5-year agreement.
CN had originally purchased the naming rights on a 15-year, $1 million deal in 2005, in which CN paid the City $100,000 annually from 2005 to 2010, and $50,000 annually from 2010 to 2020.
The current five-year agreement, which is set to conclude on March 31st, 2025, had the company pay the City $75,000 annually for a total of $375,000 over the five years.
Under the new term, City Staff has negotiated a 33.33 per cent increase, which translates to $500,000, which will be payable in $100,000 payments annually.
Director of Civic Facilities and Events Andy Beesley noted CN Rail has the right to “pull their name” if they’re not supportive of an event, referencing a previous hockey fights event.
“As we know, that started as the Multiplex, the Prince George Multiplex, and so that was ten years as the Multiplex, and now it’s been known as the CN Centre double the amount of time,” said Councillor Ron Polillo.
“It’s aging me, anyways.”
Councillor Kyle Sampson, who also works in entertainment and marketing outside of his Council role, said the facility is world-renowned for its size.
“I think that can be attested to by major touring groups, Cirque du Soleil, they love the staff and the team at CN Centre and it’s created quite a name in the industry around the world,” Sampson said.
“This year, if I remember the date correct, September 30th, is the 30th anniversary of CN Centre. I’m hopeful that perhaps we might be able to have a world-renowned act of sorts come and celebrate in-and-around that date and maybe our partners with CN or others in the community want to partner with an event of that size.”
Council unanimously supported renewing the naming rights.
Other items discussed at tonight’s (Monday) meeting included approving grant funding for a number of organizations, and a petition for paving Fox Drive Road.
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