MVP Arena will be new name for Times Union Center

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The arena in downtown Albany will soon be known as the MVP Arena. Albany County Executive Dan McCoy made the announcement Monday morning.

MVP Health Care will pay $600,000 a year for five years for the naming rights.

In addition, McCoy says MVP has also committed to another $1.4 million a year for an innovation fund that will help grow attendance at events. Some potential initiatives proposed by MVP Health Care through their bid include a community fitness court along the Albany County Helderberg-Hudson Rail Trail and a neighborhood farmer’s market in the atrium of the new MVP Arena

The new name takes effect on Jan. 1, 2022.

The Albany County-owned arena has been known as the Times Union Center for the last 15 years. However, the newspaper decided against renewing the naming rights.

The venue was originally called the Knickerbocker Arena when it first opened in 1990. It was known as the Pepsi Arena from 1997 to 2006.

MVP was one of four businesses to submit bids for the naming rights. The others were Berkshire Bank, MTS Group, and Transfinder.