Onondaga County and concert promoter Live Nation have found a sponsor for the naming rights of the Lakeview Amphitheater. Elected officials said they want to make sure the county gets the best deal possible.
Legislator Brian May, chair of the county legislature’s Ways and Means Committee, said it is Live Nation that is negotiating the contract.
“It’s very important for us to allow them to get their ducks in a row, internally, before we start discussing the details,” May said.
May said a deal with the sponsor could be reached next month.
"It's concert promotion season and they want their brand on top of those tickets, they want their brand on top of the promotion," May said. "My instinct tells me yes, but our private partner is going to set the pace."
The sponsor is not ready to be announced, but the county’s share in the revenue would be $150,000 annually for five years. The naming rights for the amphitheater have been available for a few years. Legislature Chairman Ryan McMahon said it has been an exhausting process. He said he wants the revenue to go towards future improvements to the facility.
County Comptroller Bob Antonacci did a naming rights audit in 2012, focused on how certain buildings could be named by a corporate sponsor.
“We’re not opposed to naming rights, we just think there has to be a process that’s open and transparent, that makes sure the taxpayers get the best dollar for those naming rights, because they are valuable as we have seen.”
On the surface, elected officials seemed to favor the deal. NBT Bank pays $140,000 a year to the county for the naming rights of the baseball stadium. The legislature would have to approve the deal.