Hoffman Estates renews naming rights for Sears Centre
Hoffman Estates village board members Monday unanimously approved a new three-year, $1.8 million naming-rights agreement with Sears Holdings Corp. to retain the original name of the 12-year-old Sears Centre Arena through at least Aug. 31, 2022.
Though the annual payments of $600,000 are the same as the previous three-year agreement, Sears will have a greater promotional presence inside the 11,000-seat arena through the development of an SYW (Shop Your Way) Lounge under the new agreement.
Sears' annual payments are still due 15 months before the period they cover, village officials said.
The village of Hoffman Estates has reported the ever-improving financial health of the arena since taking over ownership in 2009 from the business partnership that built it and hiring the firm now named Spectra to manage it.