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[BUSINESS] · United States · 3 sources

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Rochester City Council approves Altra Sportsplex naming rights

The Rochester City Council has unanimously approved a naming rights agreement for the city’s new sports complex, which will be known as the ‘Altra Sportsplex’. The five-year deal with Altra Federal Credit Union is valued at approximately $1.09 million.

Under the terms of the agreement, the Onalaska, Wisconsin-based financial institution will pay $210,000 annually for the first two years, with a 3% annual increase for the remaining three years. The city is expected to net approximately $870,849, while 20% of the revenue will go to the Sports Academy, the entity designated to operate the facility.

The complex is currently under construction for its outdoor amenities, which include baseball and softball fields, pickleball courts, and multiuse sports fields. While outdoor construction is underway, development for the indoor portion of the complex has been paused. The project has faced local scrutiny due to rising costs, with the taxpayer price tag increasing from an initial $65 million to $120 million.

Entities

Altra Federal Credit Union · Rochester · Rochester City Council · Sports Academy