For the fourth time in its 31 year history, Albany County’s civic center will have a new name.
Albany County Executive Daniel P. McCoy today announced that the naming rights to the county-owned sports and entertainment arena have been awarded to MVP Health Care, the Schenectady-based healthcare insurance provider.
“When we announced the arena naming rights RFP, I said I wanted more than just a company’s name and logo on our facility. I wanted a partner that was committed to the success of the arena and the surrounding community. I’m thrilled to say that we have found that partner in MVP, which has a long history of successful collaborations of this kind,” said McCoy.
Albany County officials indicated that they received three other proposals from Berkshire Bank, MTX Group and Transfinder. Additionally, MVP’s competitor CDPHP and regional grocery chain Price Chopper/Market 32 were reportedly interested in the naming rights as well.
“We received and reviewed great proposals from several other companies, and I’m hopeful there may be future projects with which they may be involved. However, MVP Health has demonstrated that they share our values in health equity and community investment through a $1.4 million annual Innovation Fund that will help grow attendance at events at the MVP Arena, support our local businesses and help Albany County build on the progress we’ve been making,” McCoy continued.
The $1.4 million Innovation Fund is separate from the $600,000 annual sum that Albany County will receive from MVP Health Care for the official naming rights, for a grand total of $2 million each year. It is a five-year contract, with two (2) additional five-year options to renew the contract. If the parties elect to renew the contract for both of the five-year extensions, the total value of the contract becomes $30 million dollars.
“Like Albany County, we believe it is our responsibility to support the health and well-being of the communities we serve,” said Chris Del Vecchio, president and CEO of MVP Health Care. “We are committed to being more than a name on one of Albany County’s marquee assets. Together with the County, we will unveil new initiatives and innovative programs to improve the vitality of the community and all who visit the Arena.”
According to Albany County, some potential initiatives proposed by MVP Health Care through their bid include a community fitness court along the Albany County Helderberg-Hudson Rail Trail; a neighborhood farmer’s market in the atrium of the new MVP Arena to connect residents with fresh produce from local farms; an MVP Arena shuttle for seniors, individuals with disabilities and others attending games and events; and year-round youth sports and coaching clinics.
“Under the leadership of County Executive McCoy, I’ve been proud to work with him as we completely rebuilt and transformed this arena by investing tens of millions to truly unlock its potential and enhance the experience of fans and local residents alike. However, we remain committed to continuing to improve and grow, and this partnership with MVP Health Care will help us do that, while also investing millions into improving the lives of those who call Albany County Home,” said ASM Global and MVP Arena General Manager Bob Belber.
The county-owned arena began operations in January of 1990. Owned by Albany County and managed by ASM, the arena has an adaptable seating capacity between 6,000 and 17,500. Since it opened nearly 32 years ago, more than 18 million patrons have walked through the turnstiles. As a multi-purpose facility, the Arena has hosted a variety of events, including concerts, family shows and sporting events, averaging 145 events each year. It is home to the Siena Saints, the Albany Empire Arena Football champions, and the Albany FireWolves of the National Lacrosse League.
