Hot Report: Naming Rights for Rentschler Field

OLR Report 2011-R-0343 examines the state's ability to sell naming rights for Rentschler Field.

The state, acting through the Office of Policy and Management (OPM), secretary, controls the stadium's naming rights but (1) cannot sell them until the summer of 2018 and (2) must meet several conditions before selling them.

The state acquired the Rentschler Field site through a donation by United Technologies Corporation (UTC). Under statute and the terms of the donation agreement, the stadium must be named Rentschler Field until the summer of 2018, and any proposed name after that must include the phrase “at Rentschler Field.” UTC also has the right of first refusal for purchasing naming rights and the ability to reject a proposed name for the facility.

The state must also (1) negotiate an agreement with UConn to share revenue from the sale of naming rights and (2) receive an opinion from bond counsel that a proposed naming rights agreement would not jeopardize the tax-exempt status of the bonds used to build the stadium.

For a more detail explanation, read the full report.