Covelli extends naming rights for downtown center

YOUNGSTOWN — Covelli Enterprises signed a five-year extension to continue the naming rights of the downtown sports-and-entertainment arena.

The contract, retroactive to May 1, calls for the business to pay $200,000 annually to the city-owned center for the first three years and then $225,000 a year for the final two years. The company has paid $200,000 annually for the naming rights the past three years. A year prior, Covelli paid $175,000, and paid $120,000 annually between May 1, 2009, and April 30, 2011.

“When our company agreed to put our name on the center in 2009, we did it because of our commitment to the community and our belief in Eric Ryan [the center’s executive director], and his team to turn the center around,” said Sam Covelli, owner and chief executive officer for Covelli Enterprises.

Ryan said, “We are privileged to be associated with the Covelli family’s distinguished legacy and work hard every year to honor that legacy with an event schedule that provides the best possible entertainment to our valley.”

For the complete story, read Wednesday’s Vindicator