Friday, February 8, 2019

Proposal Would Have Vystar Pay $9.76 Million for Naming Rights to Jacksonville Veterans Memorial Arena

Jacksonville Mayor Lenny Curry is proposing a change in the name of Jacksonville Veteran Memorial Arena to Vystar Veterans Memorial Arena, according to The Florida Times-Union.

Under the proposed agreement, VyStar Credit Union (Jacksonville, FL) would pay $9.76 million for the naming rights to the arena over 15 years. The city would put 10 percent of those annual payments into a trust fund that would support veterans programs in Jacksonville.

In addition, Vystar would provide financial support directly to veterans program.

The City Council will need to approve the name change and overturn a 2002 ordinance that said the arena “shall not bear the name of any individual or company or any other thing as part of any title.”

Read the story.

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