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Cinergy Takes Delta's Place in Convention Center Naming Rights

PHILADELPHIA-Cincinnati's locally based energy supplier buys naming rights to the Downtown Convention Center for $12 million, putting the reduced expansion plan back in play after the airline company backed out of an earlier commitment to hang its name over the door.

By Marita Thomas | Updated on October 02, 2002

PHILADELPHIA-Just hours before a vote for the reduced, $160-million expansion plan for Cincinnati’s Albert B. Sabin Convention Center was scheduled by the City Council, locally based Cinergy Corp. agreed to pay $12 million over four years for naming rights at the center. This summer Delta Airlines backed away from an earlier commitment to pay as much as $30 million for naming rights. The airline’s decision initially threatened any expansion and caused a trimming of the budget and the size of expansion for a third time.

What began several years ago as a $405 million expansion has undergone successive trimmings, first to $198 million, and now, $160 million. It trims the additional space proportionately. The $198 million plan would have added 278,000 sf to the existing 300,000 sf; the current plan adds just 184,000 sf.

Under the agreement with Cinergy, the center will be renamed Cinergy Center on January 1, 2003, and will keep that name for 30 years. In return, Cinergy will pay $3 million a year for the next four years.

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