Monday, March 27, 2006

Return of the Knickerbocker Arena

Businesses aren't exactly banging down the door to buy the naming rights to the Pepsi Arena. And they're not politely knocking, either. In fact, nobody is interested in putting their name on the building, at least not at the price that's been set by Albany County. Friday was the deadline and $350,000 a year was the minimum bid on the ten year contract. County Executive Mike Breslin's right hand man, Michael Perrin, told the Business Review:
Clearly, we were hoping to get some competitive proposals, but the reality is there are only a small number of firms that would be interested and have the wherewithal to bid.
Correction, Mr. Perrin: There are no firms interested that have the wherewithal to bid.

So what now? The county will do what salespeople have been doing for as long as things have been difficult to sell: They will drop their pants. And what if there are still no takers? Then there's the question of what the arena will be called ---and who pays to change the name.