Downtown Arena!

[Dave in Green]

The city that's home to the world's best current basketball player should also be home to a modern basketball arena. I wouldn't expect LeBron to personally fund a new basketball arena in Akron. I could see LeBron using his substantial influence to convince others to invest in a new basketball arena in Akron.

[LZIp]

The city that's home to the world's best current basketball player should also be home to a modern basketball arena. I wouldn't expect LeBron to personally fund a new basketball arena in Akron. I could see LeBron using his substantial influence to convince others to invest in a new basketball arena in Akron.

that's a different way to look at it. Who are some potential suitors he could convince?

[ZachTheZip]

that's a different way to look at it. Who are some potential suitors he could convince?

Beats Electronics? Considering how pretty much every promotion during basketball season involved giving away their headphones, maybe there's already something there to work with. They could put in a killer sound system.

Coca-Cola sponsors LeBron, and it looks like they don't have a naming deal on any arena within the United States. UA has a beverage contract with them so there's not a conflict.

[GP1]

Lebron has a goal of being the first billionaire athlete. I don't see him donating a large sum to fund a new arena.

Too late.

[GP1]

If you are looking for a company that might sponsor an arena in a city like Akron, you should look at the types of companies that have sponsored similar arenas in other parts of the country. Or, find one that has sponsored more than one arena. BB&T Bank and TD Bank (some of you will see this arena this fall) have both sponsored various arenas in the Carolinas and other places. It is going to take both private (personal) and corporate money to get this done in my opinion.

A company can do a lot more for their shareholders than sponsor an arena. One has to be swimming in money to give away $60+ million.

[GP1]

Beats Electronics? Considering how pretty much every promotion during basketball season involved giving away their headphones, maybe there's already something there to work with. They could put in a killer sound system.

Coca-Cola sponsors LeBron, and it looks like they don't have a naming deal on any arena within the United States. UA has a beverage contract with them so there's not a conflict.

Beats and Coke have the money, but probably not the interest. Beats is becoming an international company and Coke is. No reason for either to invest in a regional arena. Needs to be regional company.

[ZachTheZip]

Out of the big regional companies, Key Bank, FirstEnergy and Progressive are off the table. I don't see Parker-Hannifin, Lubrizol, or Cliffs as companies that would be interested in putting their name on an arena. Sherwin-Williams, JM Smucker, Timken, or TravelCenters of America (TA truck stops) are the big ones along with Goodyear.

[Spin]

If it is the same person, would someone from CSU go as far as sabotage the ballot to "protect" the Wolfenstein Center?

Or could they be "once bitten twice shy"?

[Spin]

Those who wonder where the U could get the money for a new arena, have you received requests for a donation as alumni? I haven't.

[g-mann17]

Those who wonder where the U could get the money for a new arena, have you received requests for a donation as alumni? I haven't.

Specifically for an arena? No, but I receive donation requests at least once a quarter, from the business school, college of arts and sciences, athletic department and the UA general fund.

[skip-zip]

I like the talk about the potential companies who could contribute. But, one problem is that Infocision and Summa are likely off the table because of the football stadium. So, that eliminates probably the biggest area company with a tight alumni link to the U and the biggest hospital system.

In terms of close proximity, isn't the U of A itself the biggest employer in the county? That doesn't help. We may not live in an area that's populated enough to have enough corporate candidates remaining who have the potential OR desire to fund this sort of thing.

It reminds me more and more of the scope of this challenge: How many D-1 Universities in this country have even tried to build a full size Fieldhouse, a new football stadium and a new basketball arena at nearly the same time? Especially one that doesn't have big area support? I think that's the real problem here.

Just think.....how much support would this tax increase receive if Summit County was trying to build a facility where the Suckeyes would play?

[K-Roo]

Have Lebron get Nike involved. Is chump change to them

[zippy5]

Regional banks are probably the best bet. Key, Fifth Third, PNC, etc.. Wouldn't count out first energy, but they have sponsored two stadiums in the past 5 years now.

[ziptrumpet87]

There is also Gojo (maker of Purell) a short walk down Main from Canal Park. Joe Kanfer, their CEO, is/was involved in the downtown development groups.

[ZachTheZip]

Regional banks are probably the best bet. Key, Fifth Third, PNC, etc.. Wouldn't count out first energy, but they have sponsored two stadiums in the past 5 years now.

All of those banks already have their names on arenas. I'm not sure First Merit has the cash to spend, but maybe they're better off than I think.

[K92]

Hoppin' Frog Arena

[Hilltopper]

First Merit has the cash, but they are way too conservative to spend that kind of money on arena sponsorship.

[Captain Kangaroo]

Arena project already killed?

Pry said University President Scott Scarborough and officials at the University of Akron were disappointed to learn that the arena may be removed; however, after going through the reasoning, they hope in the future there is an opportunity to revisit the project.

[GP1]

Good article CK. New President+A sea of red ink+zero taxpayer support for arena=dead issue. Sanity prevails.

[Spin]

Specifically for an arena? No, but I receive donation requests at least once a quarter, from the business school, college of arts and sciences, athletic department and the UA general fund.

My point exactly. They have never explored the idea of benefactors providing at least some of the funding for a new building.

One issue would be whether or not to have non-Zip events there that would result in it breaking even. A lot of alumni and university officials are dead set against having any non-Zips events there, They would rather see it sit empty 330 nights a year, and be another financial drain.

[Spin]

Coach D chimes in

http://akronnewsnow.com/wakr/ray-horner-show/item/155693-audio-summit-county-council-members-discuss-changes-in-sales-tax-issue

[LZIp]

Im not sure how relevant that point even is, Spin. Does Akron have a large enough supportive alumni base to even make a serious dent in soliciting donations for the arena? If we have a few large donors who want to donate towards a new arena, what is stopping them from donating a large sum and specifying the use for it?

I don't remember the exact details, but I believe there was a similar situation not too long ago with a donor for the business school. He set aside a large donation in order for the business school to be named after him. The U wouldn't meet the specifications for whatever reason, and the donor withdrew the donation.

[Dave in Green]

... They have never explored the idea of benefactors providing at least some of the funding for a new building. ...

There aren't that many UA alumni with the personal wealth to make the level of donation required to make a significant dent in financing a new $50 million+ arena. You can be assured that UA stays in close personal touch with those few wealthy potential benefactors and that they are all well aware of the funding needed for a new arena.

Realistically UA would be wasting its time chasing potential small donors to fund a project of this magnitude. How many posting here would be willing to donate as much as $1,000 toward funding a new arena above and beyond what they already contribute? A wildly optimistic guess is that there may be 1,000 UA alumni willing to donate $1,000 specifically for a new arena. That would total $1 million or about 2% of the $50 million+ required.

[akzipper]

Beats and Coke have the money, but probably not the interest. Beats is becoming an international company and Coke is. No reason for either to invest in a regional arena. Needs to be regional company.

Coca-Cola sponsors a minor league ballpark in Buffalo I believe. So I wouldn't say it's entirely impossible.

[Dave in Green]

When you see Coca-Cola sponsorship of a minor facility it's the local Coca-Cola distributor and not the main corporation paying the sponsorship fee. Local distributors make enough profit to fund naming rights for minor league stadiums and arenas. But naming rights generate only a fraction of the cost of building and maintaining stadiums and arenas.