Thomas J. Henry Offers $12.5 Million ($1.25 Million Annually Over a 10-Year Deal) for American Bank Center Naming Rights
CORPUS CHRISTI, TX (April 15, 2024) – Thomas J. Henry has stepped forward with a substantial offer of $12.5 million ($1.25 million annually over the course of a 10-year deal) for the naming rights of the esteemed American Bank Center.
After 20 years under the American Bank banner, the naming rights for this iconic venue are now up for auction, presenting the city of Corpus Christi with an unparalleled opportunity for transformation and growth.
To make the American Bank Center a beacon of entertainment in South Texas, Oak View Group (OVG), the management company overseeing the American Bank Center, knew they had to secure the right naming rights partner to realize this vision. They ultimately approached Thomas J. Henry.
“When I was approached by the management company for the American Bank Center, the Oak View Group, about the naming rights opportunity, I was excited to explore this opportunity,” said Thomas J. Henry.
The American Bank Center is owned by Corpus Christi and, as such, is funded in part by taxpayer dollars. As such, when Oak View Group (OVG) took over the American Bank Center on August 1, 2021, they were entrusted with securing the best deals for the city.
With the American Bank Center’s current naming rights agreement set to expire, Oak View Group (OVG) saw the opportunity to transact a new agreement that would better serve the residents of Corpus Christi. The current agreement only secured approximately $175,000-$190,000 per year for the 20-year duration. Oak View Group (OVG) knew that by renegotiating with American Bank or by finding the right naming rights partner, they could secure a better deal that would help take some of the financial burden off Corpus Christi taxpayers.
Thomas J. Henry sees the naming rights as an avenue to further his philanthropic endeavors within the Corpus Christi community. With a commitment to supporting local initiatives and fostering community growth, Thomas J. Henry envisions the American Bank Center as a hub of cultural and entertainment excellence.
As discussions progress, Thomas J. Henry remains steadfast in his dedication to securing a deal that uplifts the entire Corpus Christi community. With his offer, Corpus Christi stands poised to compete with larger cities across the state, signaling a new era of growth and prosperity.
“I am eager to collaborate with OVG and the Corpus Christi City Council to ensure that the citizens of Corpus Christi receive the best possible deal,” Thomas J. Henry affirmed. “Whether the City approves this offer by me, or an offer by another person or entity – the City should make a decision that makes financial sense for the taxpayers of Corpus Christi.
