What's Happening in Youngstown, OH…

Covelli Enterprises has extended a contract giving it naming rights for downtown Youngstown’s entertainment and sports venue for another five years, at a cost of $1.05m.

The company has had the right to name the arena since 2009, and the latest extension is retroactive to May 1, 2016. Covelli Centre is owned by the city, to which the company will pay $200,000 each year for the first three years of the contract, and $225,000 per year for the last two years.

Sam Covelli, CEO and owner of Covelli Enterprises, says that when his company agreed in 2009 to put its name on the venue, it did so because it is committed to Youngstown, the center, and its executive director Eric Ryan. Covelli says he trusted Ryan to turn around the venue, and his trust has been repaid, since matters have improved dramatically with the support of the community and hard work by Ryan and his team.

For his part, Ryan says he is privileged to work with the Covelli family, and strives to honor their legacy by bringing the very best entertainment to the area. When Covelli Enterprises began negotiating for naming rights, the center was $310,435 in debt; last year it finished with a $372,954 surplus.

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