HomeMy WebLinkAboutIR 8374 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 8374
December 18, 2001
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► To the Mayor and Members of the City Council
raga SUBJECT: TXU Energy Services and Internal Concourse Advertising Rights
at the Fort Worth Convention Center Arena
As part of a process to identify opportunities to enhance revenues, the Public Events Department
has been marketing advertising sponsorship space inside the interior concourse of the Fort Worth
Convention Center. We believe that any sponsorships secured and the accompanying revenues
will help to offset some of the minor capital improvements for the Convention Center that are
needed to compliment the on-going renovation effort. Interior concourse advertising sponsorships
are designated as Tier 2 sponsorships as opposed to a naming rights sponsorship, which is
designated as a Tier 1 sponsorship. The Department has developed a business plan that includes
obtaining two Tier 2 sponsorships for the Convention Center Arena.
With the recent action by the City Council to extend the contract with the Brahmas organization to
have them secure a naming rights sponsorship, we are hopeful that that organization's efforts
coupled with the Department's efforts will secure additional needed funds that can be used to
enhance the Convention Center. To this end, we want to alert the City Council to a success on the
nart of the Public Events Department to secure a Tier 2 sponsorship.
ffie Department has reached a verbal agreement with TXU Energy Services for a Tier 2
sponsorship. The agreement is a two-year sponsorship whereby TXU Energy Services pays an
annual fee of $130,000.00 to the City of Fort Worth. As consideration, TXU Energy Services will
receive a major sponsorship presence in the FWCC Arena Concourse for the period of the
agreement. A formal written agreement is being developed and it is anticipated that it will be
executed in the near future.
Unless otherwise directed, the funds received from this Tier 2 Sponsorship will be used for the
purchase of furniture, fixtures and equipment, plus minor capital improvements to the Fort Worth
Convention Center.
Should you have any questions, please feel free to contact Joe Paniagua, Assistant City Manager
at (817) 871-6191.
Gtiry W. JAckson
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS