Naming Rights Deal Means Steady Income for Amphitheater

By Dave Franzman, Reporter

Construction continues on the new downtown riverfront amphitheater in Cedar Rapids on Thursday, April 25, 2013. The project is scheduled to be finished during the summer of 2013 and the first events will be held in the fall of 2013. (Cliff Jette/The Gazette-KCRG TV9)

Tools

By Dave Franzman

CEDAR RAPIDS, Iowa - The new riverfront amphitheater under construction in downtown Cedar Rapids now has a new name. And that also means a guaranteed stream of income for up to eight years.

The McGrath Automotive Group agreed to pay $75,000 per year for up to five years for naming rights to the new amphitheater. The deal is a guaranteed $375,000 for the city entertainment facility with an option for three more years. The facility would bear the name McGrath Amphitheater, City of Cedar Rapids.

Pat McGrath, of McGrath Automotive, said the family-operated business was proud to be associated with what he called a “family friendly” entertainment venue.

Cedar Rapids Mayor Ron Corbett said multi-year naming rights deals are perhaps even more important than one time donations for civic projects because it’s a guaranteed source of income the facility can count on year after year to ease the burden on taxpayers.

The new McGrath Amphitheater is slightly behind original completion plans due to the wet weather this spring. VenuWorks says the facility is likely to have a “soft” opening in September with a limited number of events in 2013. There will be a full slate of entertainment in the spring and summer of 2014.

The Cedar Rapids city council is expected to formally approve the naming rights deal on July 9.

Conversation Guidelines

Be Kind

Don't use abusive, offensive, threatening, racist, vulgar or sexually-oriented language.
Don't attack someone personally. Keep it civil and be responsible.

Share Knowledge

Be truthful. Share what you know and what you are passionate about.
What more do you want to learn? Keep it simple.

Stay focused

Promote lively and healthy debate. Stay on topic. Ask questions and give feedback on the story's topic.

Report Trouble

Help us maintain a quality comment section by reporting comments that are offensive. If you see a comment that is offensive, or you feel violates our guidelines, simply click on the "x" to the far right of the comment to report it.


read the full guidelines here »

Commenting will be disabled on stories dealing with the following subject matter: Crime, sexual abuse, property fires, automobile accidents, Amber Alerts, Operation Quickfinds and suicides.

facebook twitter rss mobile google plus
email alerts you tube hooplanow pinterest instagram

What's On KCRG