PeoplesBank buys naming rights to Hartford arena
It's a deal costing $20 million over 10 years, according to published reports and a big move forward for the Holyoke-based, mutually-owned bank which has 20 full-service banking centers located in Connecticut and Massachusetts with plans to expand in Connecticut.
Hartford's Capital Region Development Authority also announced $145 million in upgrades including better seating and premium hospitality in the lower bowl with world-class food and beverage, enhanced concert rigging and amenities for performers and athletes, including new locker rooms.
PeoplesBank Arena, with 16,000 seats, is home of the American Hockey League's Hartford Wolf Pack, affiliate of the New York Rangers; 12-time national champion UConn women's basketball team and the six-time national champion UConn men's basketball team; UConn men's ice hockey as well as concerts.
It was the home of the NHL Hartford Whalers.
The arena celebrates its 50th anniversary in the fall.
'Our bank is independent and community focused,' said Tom Senecal, CEO and chairman of PeoplesBank. 'In the region, we have consistently been confused with the similarly named, but no longer existing, People's United Bank.'
Senecal said that PeoplesBank is a mutual bank, owned by its account holders.
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