PEORIA, Ill. – Financial details of a newly announced agreement between the Peoria Civic Center and Prairie Home Alliance have been released.
Prairie Home Alliance was announced this month as the new title sponsor for the Civic Center’s theater, in the facility’s first-ever naming rights deal.
The agreement was for seven-years, but financial information at the time was not available. Details were released in a Freedom of Information Act request completed by the Peoria Civic Center Authority.
As part of the seven-year deal, Prairie Home Alliance paid $45,000 for the right to name the theater in its first year. Additionally, Prairie Home Alliance will pay $45,000 monthly for year one of the deal to bring the total to $90,000. After that, payments increase to $90,000 annually for the next six years, and the total monetary amount of the seven-year-deal is $630,000.
The deal also calls for an automatic renewal in 2030 for two years, unless either side terminates it at least sixty days before it goes into effect.
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