TCU Place, Saskatoon’s city-owned downtown auditorium and convention centre, recently announced it has inked a $2.1-million, 10-year extension of its contract with TCU Financial Group, three years before the existing agreement expires.
“Our TCU Financial Group brand has become better known because of the visibility and the exposure we have gained through the TCU Place naming right agreement, not only in Saskatoon, but in Regina as well,” Morris Smysnuik, the company’s CEO, said Friday. “This recognition is a big part of the reason why we have continued growth and success in our organization.”
Although their current agreement doesn’t expire until Jan. 1, 2016, TCU Place already has the additional $2.1 million in hand, earning interest, Mayor Don Atchison said. “It’s almost double (the first deal). If things change – the configuration of the building – (the value of the contract) can always be revisited again.”
Smysnuik said he believes the ongoing naming rights is an effective and powerful marketing strategy for TCU Financial. “I can’t think of a better way to give exposure to your brand than to have your name associated on the building of the first-class facility of TCU Place.”