Proposed renaming of Budweiser Gardens clears first hurdle

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Canada Life Place has the support of London’s politicians, who voted Monday to endorse the proposed name change.

Council’s corporate services committee voted to endorse the name change from Budweiser Gardens, when the naming rights expire next month.

“I feel like we’re talking about the thing everybody’s been talking about all week,” Coun. Corrine Rahman said. “No matter what we call this building . . . it holds a special place in so many people’s hearts in this city.”

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Labatt renewed its title sponsorship of Budweiser Gardens, the city’s premier sports and entertainment venue, in 2012 as part of a 10-year deal worth $6.4-million. The sponsorship agreement was set to expire in 2022 but was extended until 2024. 

The arena opened as the John Labatt Centre in October 2002. The downtown arena is managed by Oak View Group, a professional sports and commercial management company based in Denver, Colo.

Up for endorsement Monday was a 10-year title sponsorship deal from Canada Life, the value of which was not disclosed. City staff warned politicians Monday they could not publicly share the “commercially sensitive” price tag, and could only do so confidentially with the permission of the insurance giant and Oak View.

That didn’t dampen enthusiasm from city councillors, with Coun. Paul Van Meerbergen calling the 10-year sponsorship “a darn good deal for London as a whole.”

Labatt is still the official drink sponsor at the venue until 2031, something staff singled out in their report as bumping up revenue by 50 per cent by separating naming and pouring rights.

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The name itself also struck a chord with several councillors, with several pointing to the company’s history in the city.

“I think the name is quite classy, and fits with London’s heritage certainly when it comes to financial institutions, including insurance,” Van Meerbergen said.

“I am really, really pleased that we have found a naming sponsor with such deep roots in the London community,” said deputy mayor Shawn Lewis, a guest of the committee.

Canada Life — which came about as the result of a 2020 consolidation of three life insurance companies, including London Life Insurance Co., all owned by Great-West Lifeco Inc. — has about 3,500 staff in the city. The Winnipeg-based insurer offers life, health and dental, disability, critical illness and group workplace benefit plans. It also offers investment, retirement and wealth management solutions.

“Canada Life has called London home for 150 years, and we’re excited about this opportunity to build on our shared history,” Canada Life president and chief operator Fabrice Morin wrote in a previous email to The Free Press.

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Lewis said the name change will complement recently completed and ongoing renovations worth $33 million, of which the city is contributing more than $26 million.

London’s downtown arena won’t be the first in Canada to carry the Canada Life name. The company also is the title sponsor of the Canada Life Centre in Winnipeg, the home of the NHL’s Jets.

If the name change is approved at council’s Sept. 24 meeting, the new name would be rolled out as soon as early October.

— with files from Jennifer Bieman

jmoulton@postmedia.com
@jackmoulton65

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