Louisville officials say that the naming rights for a new downtown arena could be worth as much as $40 million, over three decades.
Jim Host, head of the Louisville Arena Authority, said several companies have expressed interest in naming the facility and there have been two or three offers for the rights, but for less than $40 million.
Officials broke ground today for the 22,000-seat arena, which is scheduled to open in time for the fall of 2010 basketball season.
Host said a marketing firm should be in place by February 2007. That firm will place a value on the naming rights for the arena and begin marketing it to companies interested in having its name on the facility.