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August 02, 2012 12:05 PM

Events Center Deal: $20.75M Over 25 Years

sioux falls, sd

The Denny Sanford PREMIER Center - that's the name of the future events center in Sioux Falls.

Mayor Mike Huether and Community Development Director Darrin Smith announced the agreement with Sanford Health, First PREMIER Bank and PREMIER Bankcard, which, together, will pay $20.75 million over 25 years for the name.  Now, the city council must approve it to make it official.

The city will now focus on naming rights for inside the Denny Sanford PREMIER Center.  And the agreement with the three companies will allow industry competitors to find sponsorship opportunities.  Smith says there is nothing in the agreement to prevent that.

The city hired a company to secure a corporate sponsor.  But Smith says sponsorships for naming rights will also extend to the Convention Center and the Arena, with the whole area called Sanford Place. 

The ground breaking for the $115 million facility is scheduled for August 30.

The city received five letters of expression of interest in the naming rights.  Those came from Avera McKennan Hospital & University Health Center, First Dakota National Bank, KELOLAND Television, Orthopedic Institute and First PREMIER Bank/PREMIER Bankcard & Sanford Health. 

 

  • Business
  • Development
  • Sioux Falls, SD
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