The arena in downtown Albany known as the Times Union Center for the past 15 years will now be named for MVP Health Care.
Albany County Executive Dan McCoy says the ongoing health crisis due to the COVID-19 pandemic helped lead the county in choosing a health insurance company for the naming rights:
"Really, our messaging about equality with the health system, it really kind of fell into place," the Democrat said.
The Times Union newspaper ended its contract for the Albany County-owned arena last month.
The venue, which opened in 1990 and has also been known as Knickerbocker and Pepsi Arena, is managed by ASM. The naming rights contract must still be approved by the county legislature.
Later Monday, Albany Mayor Kathy Sheehan applauded the move.
“To me, if you’re looking for employees and somebody is considering whether to come to work for you and your name is on the premier arena in the region – that’s great," she said.
MVP is paying $600,000 a year for the rights under a five-year contract.