The naming rights deal for Sioux Falls' new events center still needs city council approval, but after talking to a couple of the members following Thursday's news conference, it sounds like it's all but a done deal.
"It's a fantastic bid; fantastic day for Sioux Falls," city council member Rex Rolfing said.
Rolfing served on the naming rights committee and also helped select the consultants who worked with Sanford Health, First PREMIER Bank and PREMIER Bankcard to broker this multi-million dollar long term deal.
"When we looked at the four firms that were coming in, we looked at them as an opportunity, what they could do to bring in obviously as much money, but also to do it in the right way," Rolfing said.
Rolfing says the deal exceeded his expectations, but not everyone who sits on the council.
"I'm really happy we are getting $750,000 a year, but the important thing is could we have gotten more and that's one thing we should always be striving for, is to try and get as much money to help deal with the events center as possible," city council member Kermit Staggers said.
Staggers doesn't believe the $750,000 will be enough to cover all operating expenses.
"I think most people realize this is going to be subsidized with taxpayer money for operating expenses, but at least this will help in trying to cut don on the subsidy," Staggers said.
Comparing this deal with some others in the Midwest, it's the largest and longest title sponsorship for an events center, including Omaha, Des Moines, Lincoln and Tulsa, Oklahoma.