TD Banknorth, Inc. has reached a 20-year agreement to put its name on the Boston arena formerly known as the FleetCenter.
Under the agreement, worth a reported $5 million to 6 million annually, TD Banknorth Garden will become the official name of the arena through 2025. TD Banknorth will also receive exclusive onsite signage, branding and advertising rights, significant hospitality and ticket opportunities, as well as online presence on the venue’s Web site.
Bank of America paid Delaware North Cos. $3 million on Jan. 5 to opt out of the naming rights deal it inherited when it bought out Boston-based Fleet Bank. The deal allowed for the FleetCenter name to remain until Delaware North secured a new deal, or Oct. 14, whichever came first. Both the NBA and the NHL play at the arena.
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