The Garden Name Returns to New England
TD Banknorth Inc. and Delaware North Companies sign long-term marketing and
community partnership; Boston arena to be renamed 'TD Banknorth Garden'
BOSTON, March 3 /PRNewswire/ -- TD Banknorth Inc. (NYSE:BNK) and Delaware
North Companies -- owner and operator of Boston's FleetCenter -- today
announced that they have reached agreement on a 20-year deal to return the
Garden name to the venue that replaced the legendary Boston Garden in September
1995. The deal grants TD Banknorth exclusive naming rights to New England's
world-class sports and entertainment arena that is home to two of the country's
most storied sports franchises -- the Boston Bruins of the National Hockey
League and the Boston Celtics of the National Basketball Association.
Under the agreement, "TD Banknorth Garden" will become the official name of the
19,600-seat, state-of-the-art facility through 2025. TD Banknorth will also
receive exclusive onsite signage, branding and advertising rights, significant
hospitality and ticket opportunities, as well as online presence on the venue's
website, one of New England's most highly trafficked entertainment sites.
"One of our primary goals during this process has been to find a company that
embraces the tradition of Boston sports the way we do and we are pleased to
have found that partner in Banknorth," said Jeremy Jacobs, Delaware North
Companies Chairman & CEO, and owner of the Boston Bruins. "Banknorth's
dedication to our community is unmatched and we look forward to the next
exciting chapter of Garden history." The marketing deal also strengthens a strong community partnership between TD
Banknorth and Delaware North Companies, and will provide exclusive benefits for
TD Banknorth associates and customers. More than $5 million over the life of
the deal will be invested directly back into the neighborhoods of New England
through the arena's foundation and the Boston Bruins Foundation, both of which
support community and youth-oriented outreach initiatives. TD Banknorth will
also disperse more than 10,000 tickets to Garden events each year to area
children and their families through the company's partnerships with local
community-based organizations.
"This partnership is more than a good marketing decision, it's a long-term
investment that reflects our ongoing commitment to the people and communities
of New England," said William J. Ryan, TD Banknorth Chairman, President and
Chief Executive Officer. "We are proud to return the Garden name to this
world-class venue and to help build an exciting new legacy for the TD Banknorth
Garden." Financial terms of the agreement were not disclosed. TD Banknorth Garden
exterior and in-arena signage will begin to be installed in July, with
completion expected in late 2005.
September 30, 2005 will mark the 10th anniversary of the arena. Since it first
opened, the venue has hosted more than 22 million guests who have experienced
world-renowned concerts, games, family shows and special events. With its
impressive facilities, the arena has attracted many national profile events,
including the NHL All-Star Game, NCAA Frozen Four, NCAA Men's Basketball
Tournament, WWE's Wrestlemania, U.S. Olympic Gymnastics Trials, U.S. Figure
Skating Championships, and, most recently, the 2004 Democratic National
Convention. In 2006, the venue is scheduled to play host to the prestigious
NCAA Women's Basketball Final Four. At more than 225 events annually, the TD
Banknorth Garden hosts more than 2.5 million guests each year.
About TD Banknorth TD Banknorth Inc. is a banking and financial services company headquartered in
Portland, Maine, with banking divisions in six Northeastern states. TD
Banknorth Inc. is a majority-owned subsidiary of The Toronto-Dominion Bank
Financial Group, and successor to Banknorth Group, Inc. TD Banknorth Inc. trades on the New York Stock Exchange under the symbol "BNK". For more
information, visit http://www.banknorth.com/.
At December 31, 2004, TD Banknorth Inc. had assets of $28.7 billion and
provided financial services to more than 1.3 million households in the
northeast. Based on consolidated assets, TD Banknorth Inc. is one of the 30
largest commercial banking organizations in the United States. TD Banknorth's
banking subsidiary, Banknorth, N.A., operates banking divisions in Connecticut
(Banknorth Connecticut); Maine (Peoples Heritage Bank); Massachusetts
(Banknorth Massachusetts); New Hampshire (Bank of New Hampshire); New York
(Evergreen Bank); and Vermont (Banknorth Vermont). TD Banknorth and Banknorth,
N.A. also operate subsidiaries and divisions in insurance, money management,
merchant services, mortgage banking, government banking and other financial
services and offers investment products in association with PrimeVest Financial
Services, Inc.
About Delaware North Companies Delaware North Companies is one of the world's leading hospitality and food
service providers. Its family of companies includes Delaware North Companies
Parks & Resorts, Delaware North Companies Gaming & Entertainment, CA One
Services, Sportservice, Delaware North Companies International and the Delta
Queen Steamboat Company. Delaware North Companies is one of the largest
privately held companies in the United States with $1.6 billion in annual
revenue and 30,000 associates serving half a billion customers in the United
States, Canada, the United Kingdom, Australia and New Zealand. For more
information, visit http://www.delawarenorth.com/. DATASOURCE: Delaware North Companies CONTACT: Jeff Nathanson, +1-207-761-8517, for TD Banknorth Inc.; or Jim Delaney, +1-617-212-6810, or Courtney McIlhenny, +1-617-719-0915, both of Delaware North Companies - Boston Web site: http://www.delawarenorth.com/ http://www.banknorth.com/
|