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Bank of America fields pitch on Newark arena


David Puddy

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Bank of America fields pitch on Newark arena

Wednesday, October 13, 2004

Bank of America Chief Executive Kenneth Lewis came to Newark yesterday to give away money and left with something to think about.

The third-largest bank in the United States became the biggest player in New Jersey this year through its acquisition of Fleet bank and is busy putting up signs on the 433 branches. Lewis was in town to donate $2 million to the New Jersey Performing Arts Center.

During the check-passing ceremony, Newark Mayor Sharpe James thanked Lewis for the money. Then he made another pitch -- he also told Lewis the bank has the opportunity to further enhance its profile by purchasing the naming sponsorship for the planned $310 million Newark arena, the future home of the New Jersey Devils.

Bank officials said they have high hopes for the New Jersey market, with its well-above-average salaries and wide range of prosperous businesses. Would the effort be helped by putting "Bank of America" in big letters on the side of the arena?

While naming rights would certainly cost multiple millions of dollars, Lewis said such decisions are made at the local and regional level. Ann Limberg, who last month took up the post of New Jersey president, said she is putting together her team and action plan, but didn't rule it out.

"We'll look at it," Limberg said.

-- Paul Cox

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Wouldn't it be BAC? Bank of America Center?

<{POST_SNAPBACK}>

That's probably what the Fleet Center in Boston will change it's name to.

Plus I doubt the company would spend all that money to sponsor two arenas in the same league within 5 hours of each other. You never know but I'd bet on a different company buying the rights.

Edited by Zero
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It has precedent. The American Airlines Arena is in Dallas and the Mavs play there and the American Airlines Center is in Miami and the Heat play there.

I do not want Bank of America to sponsor the arena. It's too long.

<{POST_SNAPBACK}>

Yes, but they are further than 5 hours away from each other...per Zero's theory.

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Wouldn't it be BAC? Bank of America Center?

<{POST_SNAPBACK}>

That's probably what the Fleet Center in Boston will change it's name to.

Plus I doubt the company would spend all that money to sponsor two arenas in the same league within 5 hours of each other. You never know but I'd bet on a different company buying the rights.

<{POST_SNAPBACK}>

That's true, didn't even think of that.

I just speculated "Center" because the CAA is already called "Arena", and a lot of the time they like to change the name when two arenas are in such close proximity.

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What's the matter, you don't like the sound of BONY Arena? :lol:

EDIT: :rant:

<{POST_SNAPBACK}>

:lol: Good one Sammy! :lol: I didn't even think of that, it's more I don't want our NJ Devils playing in an arena called NY anything. :P The bank used to have a billboard on I-80 by Hackensack it read: If your football teams can be called NY, why can't your bank? - or something like that. Yep I'm one of those that doesn't like the Giants and Jets being called NY when they play in NJ, so to have our team in an arena with a NY name would just be one more injustice, IMO. :rant:

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