Cenovus purchases naming rights to Lloydminster multiplex
By MEDICINE HAT NEWS on June 29, 2023.
https://www.medicinehatnews.com@MedicineHatNews The naming rights to a planned multiplex and outdoor recreation hub in Lloydminster have been sold to Cenovus Energy for $5 million in a 15-year deal, the energy company announced on Wednesday. “More than 2,000 of our staff and their families live and play in this region,” said Jon McKenzie, the president and CEO of Cenovus. “Our contribution to the Cenovus Energy Hub is a great way to connect them and their neighbours through recreational activities, cultural programming and landmark events and celebrations.” A concept plan for the $100-million district includes a 2,500-seat spectator arena, a secondary rink and third, outdoor rink near six softball diamonds, an outdoor pavilion and three dozen camping stalls. Plans also include six commercial units and potential for a hotel. Construction on some aspects could begin this year and be operational by winter of 2025, according to the release. The Government of Canada and Saskatchewan announced a total of $33 million in grant funding for the project in April. The City of Lloydminster’s portion could be $48 million in borrowing and reserve cash. 9-8
