TD Bank signs deal to keep its name on the Garden for decades to come

The name of the nearly 20,000-seat TD Garden, home of the Boston Bruins and Boston Celtics, is currently set through mid-2045. The deal comes less than four years after Delaware North completed his $100 million arena renovation and expansion along the larger hub of the Causeway development. It also follows TD Bank’s sponsorship of the Bruins (a team owned by the Jacobs family, like the Delaware North), which will take effect in the 2020/2021 season and put the Bank name on a hockey player’s helmet.

“Can you imagine our 40-year relationship with a naming rights partner?” said Amy Latimer, President of TD Gardens. “Finding an organization that is easy to work with is a gift.” [like TD]… we have two organizations that are very aligned in how they want to treat their customers, employees and communities. ”

The negotiations grew out of discussions between TD Bank and Delaware North about how best to fulfill existing naming rights deals in the early days of the COVID-19 pandemic when no in-person events were taking place. rice field. Latimer said Delaware North did not market the naming rights, instead maintaining exclusive negotiations with TD Bank. (The arena will host about 160 public events in 2022, approaching pre-pandemic levels of activity, Latimer said.)

“It didn’t have to be fast, but why?” Cheryl McQuaid, New England president of TD Bank, said of the update. “We knew we were committed to maintaining our partnership.

The extension of the naming rights also took shape as TD Bank, a subsidiary of Toronto-Dominion Bank, seeks to increase its presence in New England, particularly in the Boston area. TD Bank recently opened a new branch in East He Boston and another soon in Jamaica Plain. TD Bank is the fourth-largest retail bank in Massachusetts, based on deposit market share, while it is the seventh-largest in the city of Boston.

“We believe it will be a really good way to jumpstart our growth in Boston,” said McQuade.

The building’s banking ties date back to the early 1990s, as it was built next to the old Boston Garden. It was originally going to be called the Shawmat Center, but when it opened in 1995, Fleet acquired the Shawmat and inherited the naming rights. Thus, FleetCenter was born.

The name lasted for about ten years until Bank of America bought what became FleetBoston Financial and decided it no longer wanted to sponsor the arena. Bill Ryan, a banker who was leading the club, joined. Ryan is a big fan of Boston sports and wanted to bring back the “Garden” moniker to the arena. After the Toronto-Dominion acquired a majority stake in Banknorth, he granted his wish by signing a new naming rights agreement. , TD Banknorth and New Jersey-based Commerce Bank merged under the name TD Bank, shortening the Arena name to its current form in 2009.

“We always want it to be accurate and clear that it’s ‘TD Garden,’” McQuade said. “[But] That feeling, the name ‘The Garden’ is very important. ”

Jon Chesto can be reached at follow him on twitter @John Chest.

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