RACC

[GreatDanes06]

want to piss off some Binghamton fans...THE CU ZOO!!!

 

hahahahhahahahahahhahahaha....i can already hear them

[B9j2j6s]

Hey GD 84 is this going to be broadcast live on WCDB, OR ON 980 AM?

[Dane96]

Will St. Hillaire ask for some personal appearance $$ at the "Q"?!

[JonUA97]

naming rights bought by SEFCU...dont know exactly what they are calling it though...somewhere around 2.2 mil.

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I don't know about you lot, but I'm going to find it difficult not to call it the RACC. While I understand the realities of running a mid-major athletic department and the need to do things like this, that doesn't mean I like it. I feel like venues lose about half their character when they get a Wal-Mart name, especially when they are re-named ala The Knick.

 

I guess the upside is that Doc may get his due, and there won't be two RACC's in the AE any more.

 

S$

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S$ is on the money with that.

 

Doc should get his due and we should get the dough for the rights.

 

In the end, it's always going to be the RACC to me just like the Knick.

 

SSS!

[NYR]

Congats to UA and the Athletic Dept. This is a move in the right direction. Too bad season tickets were printed with the RACC name on them (although they did arrive in a SEFCU envelope)

[statefan]

Is the atrium still named for Key Bank? If so, it could make for some uncomfortable announcements of events to be held at the Key Bank atrium in the SEFCU Arena.

 

I'm asuming the naming rights are for a specific duration. I had recently heard that the University was marketing naming rights for the football stadium for a ten year term; but naming rights for the proposed School of Business building in perpetuity.

[Dane Pound]

Story in today's TU about the name change. You'll love the quote from Doc Sauers. Danes' home: SEFCU Arena

[UAalum72]

Is the atrium still named for Key Bank?  If so, it could make for some uncomfortable announcements of events to be held at the Key Bank atrium in the SEFCU Arena.

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The Key Atrium was named in January, 2000 after a $250K donation. I had thought it was a five-year deal (5-year, $50K per) but the Key logo was still up Monday.

[Dane96]

Is the atrium still named for Key Bank?  If so, it could make for some uncomfortable announcements of events to be held at the Key Bank atrium in the SEFCU Arena.

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The Key Atrium was named in January, 2000 after a $250K donation. I had thought it was a five-year deal (5-year, $50K per) but the Key logo was still up Monday.

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Moot point anyhow. Word in the banking world is that Key will be bought out soon anyway.

[Ruler]

I would expect a fund raising announcement very soon for a new..............

[GODANESGO]

The SEFCU deal's for about $2 and a half million over 10 years.

[Dane96]

I would expect a fund raising announcement very soon for a new..............

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....balance beam?

 

 

Exciting times coming in the near future.

[reeder]

I find this interesting.

 

I was on the BOD for a credit union for many years and I can't imagine ever buying naming rights to an arena.

 

1. Credit Unions are not for profit

2. Owned by it's members (unlike a bank)

3. The BOD is all volunteer and generally there is an aversion to doing anything remotely risky (they do have insurance). We only invested in CD's and government backed investments. $2 million naming rights might be perceived as a risky investment.

4. There is an inherent conflict with banks and credit unions as banks perceive credit unions as invading their space without the regulations and taxes. Specifically, credit unions are permitted to market to a specific constituency - in this case - State Employees. As a bank in the Albany area, you could argue that SEFCU is competing for your customers (this would be especially true if SEFCU has broad mambership requirements).

 

That said, I was on the BOD about 10 years ago so some of the regs may have changed - but I don't believe they have.

 

Don't flame me - just expressing a thought.

[Dane96]

I find this interesting.

 

I was on the BOD for a credit union for many years and I can't imagine ever buying naming rights to an arena.

 

1. Credit Unions are not for profit

2. Owned by it's members (unlike a bank)

3. The BOD is all volunteer and generally there is an aversion to doing anything remotely risky (they do have insurance).  We only invested in CD's and government backed investments.  $2 million naming rights might be perceived as a risky investment.

4. There is an inherent conflict with banks and credit unions as banks perceive credit unions as invading their space without the regulations and taxes.  Specifically, credit unions are permitted to market to a specific constituency - in this case - State Employees.  As a bank in the Albany area, you could argue that SEFCU is competing for your customers (this would be especially true if SEFCU has broad mambership requirements).

 

That said, I was on the BOD about 10 years ago so some of the regs may have changed - but I don't believe they have.

 

Don't flame me - just expressing a thought.

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I have worked with multiple credit unions (when I was an attorney at the Sect. of State's office) and no, the regs are not drastically different then what you remember.

 

That being said, there must be some unreal marketing going on by the ADept to get SEFCU on. 220k (reported by GD84) per year for naming rights to a state school arena is HUGE.

 

Put this in perspective: THE TUC (medicated pad arena) went for 3.5mm over 10 years.

 

I e-mailed a consultant last night (big accounting firm) and he was shocked at the sticker value.

[Clickclack]

I had the same thought, how can the TUC being a preeminent entertainment venue pull in 3.8 mil while we get 2.5 mil for an on campus arena? Koodos to the AD for pulling this deal together. By the way per LCC board we have no right to call it an "arena".

 

P.S. If I'm not mistaken we get to keep the 2.5 mil while LCC doesn't see a dime since the arena is owned by the county.