Major changes are in store for the former Floyd L. Maines Veterans Memorial Arena and Broome County Forum in downtown Binghamton. Following a meeting of the Broome County Legislature on August 13, Visions Federal Credit Union has secured naming rights to the Arena, provided ongoing sponsorship to the Forum and partnered with Mirabito Energy Products to have the latter sponsor the box offices.
“Broome County has been our home since the beginning,” said Ty Muse, Visions’ President/CEO. “Partnering with the County and Mirabito furthers our investment in the community, and it’s even better knowing that we’ll have a part in drawing more people to the area. Whether they’re here for LUMA, hockey, or even a concert, they can experience all the great things that the Binghamton area has going for it.”
In addition to Visions Federal Credit Union being awarded the naming rights to the Arena, Mirabito Energy Products was announced as the new sponsor of the box offices at the Arena and Forum Theatre, according to a news release from Broome County.
Mirabito is excited for its part, too. “We look forward to partnering with Visions on this exciting new project,” said Joe Mirabito, CEO, Mirabito Energy Products. “By working together, we will be able to better support the Arena and its efforts to enhance the quality of life in our community.”
Under the deal, which commences on January 1, 2021, and runs for 10 years, the Arena will be known as the Visions Federal Credit Union Veterans Memorial Arena.
Broome County will receive $60,000 per year for the duration of the 10-year agreement which could be extended for an additional 5 years. The fee will double if the county is successful in securing funding for and completing a significant renovation of the Arena, totaling more than $20M, according to Broome County.
Earlier this year, a request for proposals was issued for the Arena naming rights. Visions Federal Credit Union submitted a proposal to acquire the Arena naming rights and the box offices naming rights to both the Arena and Forum Theater.
