In a move to cut costs, GM announced that it will not be renewing its contract with the city of Youngstown, OH. to have its arena carry the Chevy name. GM’s three-year contract for the center’s naming rights expired Tuesday. The company paid $175,000 in cash per year and provided four GM vehicles a year to the city, including one driven by the Mayor. The company is scaling back its sponsorships of sporting events and at entertainment facilities strictly because of the struggling economy and sluggish sales. However in a last minute deal with local Chevy dealers, the name will remain the same. The dealers agreed on a new price and will keep the arena named after Chevy.
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