SAN DIEGO (CelebrityAccess MediaWire) — The Carlsbad, CA real estate company that bought the naming rights to San Diego’s Sports Arena two years ago is in default of its $2.5 million naming rights agreement, according to venue operator Arena Group 2000.
IpayOne made the initial installments on the $2.5 million it agreed to pay over five years, but then stopped, according to Ernie Hahn II, head of Arena Group 2000.
“We’ve had to send letters, reminders,” he told the North County Times. “It’s been less than ideal.”
IpayOne had posted a notice on its website this week announcing that it will no longer accept new real estate listings and asked buyers and mortgage customers to make contact by email. It was signed by the company’s CEO Michael Jackman.
Hahn told the paper that his group was looking for a new naming rights sponsor to take over at the 40-year-old arena. –by CelebrityAccess Staff Writers