Cross arena deal paves way for more big acts
Cross Insurance Arena in Portland could get more big-name acts after its board of trustees approved a five-year contract for Philadelphia-based Global Spectrum to manage the venue.
The Portland Press Herald reported that the venue, formerly known as the Cumberland County Civic Center, will be managed by Global Spectrum for $110,000 a year, with annual increases to follow based on inflation, along with bonuses based on revenue increases.
The contract with Global Spectrum, which also manages the Cross Insurance Center in Bangor, is expected to give the venue more access to big-name acts. It will also give the venue, which was previously under local management, a more robust marketing budget.
Cross Insurance, based in Bangor, won the naming rights to the Portland arena last summer in a 10-year, $2.5 million deal. As Mainebiz reported in 2012, naming rights for sports arenas has been a popular tool for stadium owners and large companies.
Source: Portland Press Herald
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