Allen City Council unanimously voted in favor of a resolution authorizing the city manager to execute a $ 2.2 million sponsorship deal between the Allen Event Center and the Credit Union of Texas (CUTX) .
This agreement stipulates a name change for Allen Event Center, effectively changing it to “Credit Union of Texas Arena”.
According to council documents, CUTX will make seven annual installments of $ 325,000 to Allen Parks and Recreation beginning October 15 and ending October 14, 2028.
In return, the Allen-headquartered credit union will have rights to interior and exterior building signage, “personal bank sponsor exclusivity,” marquee signage, including the Village video billboard. At Allen on US-75 and one box reserved for all tickets. events organized at the event center.
Other sponsor benefits codified in the agreement include exclusive use of the event center for one weekend per year at CUTX’s expense until 2028 and other digital advertising opportunities.
The sponsorship agreement states that Allen Event Center’s sponsorship agreement with Randolph-Brooks Federal Credit Union, which is due to expire October 14, is not to be renewed in the interest of sponsorship exclusivity.
After council voted 7-0 in favor of the deal, Councilor Baine Brooks made a public comment in which he praised CUTX for its involvement in the community. The commentary was greeted with applause from the podium and followed by approval from Mayor Ken Fulk.
“They came along and they really got involved in our community,” said Brooks. “Thank you all for coming to town and exceeding our expectations.
Opened in 2009, the Allen Event Center has been a key facility in the city’s economic development. In addition to hosting home games for the Allen Americans ice hockey team, it has also hosted galas, conventions and ceremonies. In addition, it has been recognized nationally for its usefulness as a concert hall, having hosted performances by artists such as BB King, Peter Frampton, Twenty One Pilots, Bryan Adams, Kane Brown, Lenny Kravitz, Judas Priest, The Doobie Brothers, Hall and Oates, the boys from Oak Ridge and Buddy Guy. .