In a move that had been expected for months, The University of Colorado at Boulder (“CU”) formally announced the removal of the Coors name from its multi-purpose arena. Previously known as the Coors Events Center, the ~$7.7 million facility broke ground in 1977 and opened as the CU/Events Conference Center two years later. The Adolph Coors Foundation (“Coors Foundation”) made a one-time gift of $5 million in 1990, which led to naming rights for the ~11,000 capacity arena. The Coors Foundation was founded in 1975 with funds from the Coors Brewing Company family fortune.
According to the Denver Post, officials from the University and the Coors Foundation engaged in discussions about a new financial commitment tied to naming rights but did not come to an agreement. In April 2018, CU’s in-state rival announced a $37.7 million naming rights partnership with Canvas Credit Union to rename Colorado State University’s (CSU) football stadium. CSU’s fifteen year sponsorship is just one of several recent blockbuster naming rights deals involving major universities.
Given the current backdrop, The University of Colorado at Boulder is seeking a naming rights commitment of at least ten years. Home to the men’s/women’s Pac-12 Conference basketball teams, the CU Events Center is located on the University’s main campus at 950 Regent Drive in Boulder.