(CelebrityAccess MediaWire) — Bill Graham Presents, operator of the Chronicle Pavilion, has struck a deal with a new sponsor, to rename the venue to Sleep Train Pavilion at Concord.
The city, which owns the northern California venue, has negotiated a contract extension with BGP for an additional $740,000 over the next two years, and approved the name change this week. Signs on the road and at the pavilion will all be updated before the summer concert season begins, according to the Contra Costa Times.
BGP also manages the Sleep Train Amphitheater in Marysville, near Sacramento.
The $740,000 paid by the city will go toward paying off debts for the 12,500-capacity pavilion’s renovation a decade ago, about half of BGP’s annual debt payment.
“It’s the best deal we’re going to get from anyone to manage the pavilion,” Concord’s assistant city manager Mark Deven told the Times. “The economics of the live entertainment industry are very challenging right now.” –by CelebrityAccess Staff Writers