Shriners Protest Live Nation's Indy Naming Rights
On March 16th Live Nation, which has a 50 year agreement to manage Indianapolis' Murat Centre, announced the venue would be renamed Old National Centre under a three year agreement with Evansville-based Old National Bank. Now that the new marquee is up, the owner of the building, the Murat Temple Association, may be getting ready to launch a legal battle to revoke the naming rights Live Nation recently sold.
At issue is whether Live Nation, which leases the building from the city of Indianapolis and the Murat Shriners of Indianapolis, had the rights to sell naming rights to the building. According to the Indianapolis Business Journal, the owner-tenant agreement allows Live Nation to sell advertising and sponsorships within the building, but makes no mention of naming rights to the venue. The lease also maintains that the Murat Theatre, located within the building, continue to carry its current name.
Now the Murat Temple Association has demanded that Live Nation request permission to change the name, which it says were not granted in its contract with Live Nation. Live Nation maintains is has the right to sell naming rights under the current lease agreement, which expires in 2045.
Old National CEO Randy Reichmann believes the issue will be resolved.
"We have every reason to believe that Live Nation knows what they‘re doing and that they have full authority to enter into that sponsorship arrangement," says Reichmann. "And now we‘re just letting things work themselves out."
The Murat Centre, has it has been known since its development in 1910, has been a longtime staple of downtown Indianapolis. The adjacent Murat Temple is the largest Shrine temple in North America.
photo credit: livenation.com