The City of Mississauga is ending an eight-year naming rights agreement with Paramount Fine Foods due to alleged non-payment. The facility will be temporarily renamed on June 1 as the “Mississauga Sports and Entertainment Centre.” The city says it terminated the contract unilaterally and is considering legal options to seek remedy. The city will also take over food operations at the venue. The city states there will be no impacts to scheduled programs, bookings, rentals, or events, and that business will continue as usual during the transition. Paramount Fine Foods’ founder posted that the company was ending its sponsorship deal and redirecting community investment, without addressing the non-payment allegations. The temporary name will remain until a new naming partner is found.
"The city announced it's ending its eight-year naming rights deal with Paramount Fine Foods, and is temporarily renaming the facility on June 1 to the “Mississauga Sports and Entertainment Centre”. The city unilaterally terminated the contract with Paramount Fine Foods for lack of payment and is in the process of considering its legal options for remedy, the city said in its statement. The city is also taking over food operations at the facility, the statement said."
"There are no impacts to scheduled programs, bookings, rentals or events. The temporary facility name will stay in place until the city finds a new naming partner, according to the Mississauga release. Residents, tenants, and event organizers should expect business as usual at the facility, Raj Sheth, commissioner of community services, said in the release. Programs, rentals, bookings, and events will continue, and our focus is on maintaining a smooth transition as the city moves to the temporary name and assumes food service operations."
"We've made the decision to conclude our sponsorship and redirect our community investment toward new initiatives and opportunities across Mississauga, he said. Paramount Fine Food has been proud to sponsor this facility and have our name associated with one of Mississauga's most important community spaces over the years. The founder and president of Paramount Fine Foods, Mohamad Fakih, posted a video to Instagram on Monday in which he said simply that his company was ending its sponsorship deal with the municipality."
#mississauga #naming-rights #sports-and-entertainment-venue #contract-termination #food-services-operations
Read at www.cbc.ca
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