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Naming‑rights spat spotlights American Bank Center finances and Oak View Group’s management
Summary
Council questioned Oak View Group 360’s selection of a naming‑rights partner after a public offer from a local law firm; OVG and council discussed sponsorship impacts, lost revenue, and the company’s financial reporting and audit backlog.
Councilmembers pressed Oak View Group (OVG/OVG 360), the American Bank Center operator, on June 24 about its selection of a naming‑rights partner and on financial reporting after staff told council the city would receive a lower naming‑rights payment than a previously public offer.
OVG said it entered contract negotiations with Hilliard law firm on an offer that OVG reported is approximately $13.3 million over 10 years. OVG representatives said the Thomas J. Henry firm had previously proposed roughly $20 million over 10 years. OVG said the two bids were not apples‑to‑apples because the packages differed in included inventory and sponsorship elements…
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