Naming rights would help solve Colorado’s financial crisis
As the state legislative session closes, I am plagued by many unanswered questions, questions like why was it so important to consider mandating the posting of “In God We Trust'” in our public schools?
Why isn’t there a genuine, comprehensive effort to reduce waste in state government, instead of cutting whole programs? Why is State Treasurer Mike Coffman, instead of the minority party, apparently serving as the leader in examining the stifling and contradictory effects of several state constitutional amendments?
And most importantly, why are we considering selling state buildings such as the State Capitol and the Governor’s Mansion, and then turning around and leasing them back?
Talk about pennywise and pound-foolish. Are our collective memories so short in Colorado we have forgotten a much better option? Yes, I’m referring to selling naming rights – think, Coors Field, Invesco Field at Mile High, the Pepsi Events Center and places in other states such as Bank One Ballpark (the BOB). The state could clearly retain ownership of its buildings and at the same time rake in untold millions in naming rights.
I don’t know what the final price tag was, but it was reported in January 2001 that Invesco Funds Group Inc. was ready to pay $120 million for the rights to have Invesco in the name of the new football stadium in Denver. With just a little thought (and some fast back-room deals) we could, in a very short time, not only make up the loss created by the governor’s $1 billion in tax cuts in the past several years, but also deal with the continuing problem of state revenues repeatedly falling short of expectations.
Well, this taxpayer is ready. How about the Fat Tire Governor’s Mansion and the Coors Capitol for Colorado or the Melody Homes Governor’s Mansion and the United Airlines State Capitol at Denver? I will stop there – let the selling begin.
Support Local Journalism
Support Local Journalism
As a Summit Daily News reader, you make our work possible.
Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.
Your donation will be used exclusively to support quality, local journalism.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User