In an effort to try and help raise money in order to fund the estimated $200 million convention center expansion project, the downtown center may be up for naming rights bids. Mayor Darrell Steinberg is hoping that a naming rights deal may help pay for at least $20 million in the expansion project.
In support of the idea, COO of Visit Sacramento, Mike Testa, commented:
“The companies get exposure. If you look at the Golden 1 Center, you’re getting the Kings game’s sponsorship. With the convention center you’re getting all the meetings, the home and reptile shows— but the conventions throughout the year too.”
Steinberg believes that the money gained in such a deal could be immensely helpful in attracting more tourism to Sacramento by being able to put the money to use on local investments.
He stated in an interview with CBS:
“That’s money that will be freed—that we can then free up to spend on the other investments in Sacramento that are going to draw more people here.”