{"id":78,"date":"2010-05-11T21:21:27","date_gmt":"2010-05-12T02:21:27","guid":{"rendered":"http:\/\/www.syntheticoilhq.com\/blog\/for-6-million-its-amsoil-arena\/"},"modified":"2010-05-16T16:30:08","modified_gmt":"2010-05-16T21:30:08","slug":"for-6-million-its-amsoil-arena","status":"publish","type":"post","link":"http:\/\/www.syntheticoilhq.com\/blog\/for-6-million-its-amsoil-arena\/","title":{"rendered":"For $6 million, it&#8217;s Amsoil Arena"},"content":{"rendered":"<div class=\"wlWriterHeaderFooter\" style=\"float: right; margin: 0px; padding: 0px 0px 4px 8px;\"><script type=\"text\/javascript\">\/\/ <![CDATA[\ndigg_url = \"http:\/\/www.syntheticoilhq.com\/blog\/for-6-million-its-amsoil-arena\/\";digg_title = \"For $6 million, it\\'s Amsoil Arena\";digg_bgcolor = \"#FFFFFF\";digg_skin = \"normal\";\n\/\/ ]]><\/script><script src=\"http:\/\/digg.com\/tools\/diggthis.js\" type=\"text\/javascript\"><\/script><script type=\"text\/javascript\">\/\/ <![CDATA[\ndigg_url = undefined;digg_title = undefined;digg_bgcolor = undefined;digg_skin = undefined;\n\/\/ ]]><\/script><\/div>\n<p>UPDATE: Amsoil, the Superior-based maker of synthetic motor oil, is paying $6 million over 20 years for the right to name the Duluth Entertainment Convention Center\u2019s new arena, Amsoil Arena.<br \/>\nBy: Steve Kuchera, Duluth News Tribune<\/p>\n<p>Read the entire article here; <a title=\"http:\/\/www.duluthnewstribune.com\/event\/article\/id\/168383\/group\/Sports\/\" href=\"http:\/\/www.duluthnewstribune.com\/event\/article\/id\/168383\/group\/Sports\/\">http:\/\/www.duluthnewstribune.com\/event\/article\/id\/168383\/group\/Sports\/<\/a><br \/>\n.<br \/>\nAlbert J. Amatuzio \u2014 Amsoil\u2019s founder, president and CEO \u2014 speaks at Tuesday&#8217;s morning news conference at the new DECC arena. Amsoil will pay $6 million over 20 years to have the building named &#8220;Amsoil Arena. (Bob King \/ rking@duluthnews.com)<br \/>\nMore&#8230;<br \/>\nDNTV: New name for new DECC arena<br \/>\nPhoto Gallery: Amsoil Arena news conference<img loading=\"lazy\" decoding=\"async\" style=\"display: block; float: none; margin-left: auto; margin-right: auto; border: 0px;\" title=\"image\" src=\"http:\/\/www.syntheticoilhq.com\/blog\/wp-content\/uploads\/2010\/05\/image1.png\" border=\"0\" alt=\"image\" width=\"267\" height=\"213\" \/><br \/>\nDuluth\u2019s new arena will be named Amsoil Arena.<\/p>\n<p>Amsoil, the Superior-based maker of synthetic motor oil, will pay $6 million over 20 years for the right to name the Duluth Entertainment Convention Center\u2019s new arena.<\/p>\n<p>\u201cWe approached Amsoil very informally,\u201d said DECC Executive Director Dan Russell. \u201cTheir response was, \u2018We\u2019ll listen to anything,\u2019 and \u2014 bingo.\u201d<\/p>\n<p>Russell made his comment immediately following a DECC Authority meeting this morning at which board members unanimously approved the tentative agreement.<\/p>\n<p>The agreement was publicly announced at an 11 a.m. news conference in the still-under-construction arena. During the event Albert J. Amatuzio \u2014 Amsoil\u2019s founder, president and CEO \u2014 said he was \u201cvery happy to be here.\u201d<\/p>\n<p>\u201cI didn\u2019t realize I would be paying this much money,\u201d he joked.<\/p>\n<p>Under the agreement, Amsoil will pay $2 million upon signing. That will help the DECC build up its reserves, Russell told board members. In exchange for the money, Amsoil will get an external sign on the building, on-ice advertising, the use of a suite, 12 tickets and six parking passes.<\/p>\n<p>Russell told board members there are a couple outstanding issues to be resolved, including getting city permission for the sign and permission from the state of Minnesota.<\/p>\n<p>Board member and UMD vice chancellor of finance and operations Greg Fox noted that the amount of the agreement covers almost 13 years of the DECC\u2019s bond obligation for the arena.<\/p>\n<p>This is not the first time Amsoil has bought the naming rights for a local event or attraction. The annual snocross event at Spirit Mountain is named the Amsoil Duluth National Snocross.<\/p>\n<p>Construction on the $70 million arena began in April 2009. The arena will include 6,700 seats and an NHL-sized ice sheet. The University of Minnesota Duluth men\u2019s hockey team will play North Dakota on Dec. 30 in the arena\u2019s first game.<\/p>\n<p>Amatuzio, 86, was born, raised and lives in Duluth. He played college hockey at Duluth Junior College and at what would become the University of Minnesota Duluth. He admits, however, that he doesn\u2019t attend many Bulldogs games.<\/p>\n<p>\u201cToo busy,\u201d he said.<\/p>\n<p>Amatuzio served 25 years in the Air Guard as a jet fighter pilot. He founded Amsoil after retiring from the military and after observing characteristics of synthetic oil in jet engines \u2014 reduced engine wear, good performance in extreme temperatures and long life. He thought that synthetic oil also could be used in automobiles. The first can of Amsoil 10W-40 appeared on the market in 1972.<\/p>\n<p>Amatuzio has received numerous awards since founding Amsoil. He was inducted into the Superior Business Hall of Fame last year.<\/p>\n<p>\u201cAmsoil has done things at the DECC since I\u2019ve been here,\u201d Russell told board members. \u201cThey are great customers of ours.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UPDATE: Amsoil, the Superior-based maker of synthetic motor oil, is paying $6 million over 20 years for the right to name the Duluth Entertainment Convention Center\u2019s new arena, Amsoil Arena. By: Steve Kuchera, Duluth News Tribune Read the entire article here; http:\/\/www.duluthnewstribune.com\/event\/article\/id\/168383\/group\/Sports\/ . Albert J. Amatuzio \u2014 Amsoil\u2019s founder, president and CEO \u2014 speaks at<\/p>\n<p><a class=\"more-link\" href=\"http:\/\/www.syntheticoilhq.com\/blog\/for-6-million-its-amsoil-arena\/\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[1],"tags":[27,26],"class_list":["post-78","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-amsoil-arena","tag-amsoil-news"],"jetpack_publicize_connections":[],"aioseo_notices":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p2D1TS-1g","_links":{"self":[{"href":"http:\/\/www.syntheticoilhq.com\/blog\/wp-json\/wp\/v2\/posts\/78","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.syntheticoilhq.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.syntheticoilhq.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.syntheticoilhq.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.syntheticoilhq.com\/blog\/wp-json\/wp\/v2\/comments?post=78"}],"version-history":[{"count":3,"href":"http:\/\/www.syntheticoilhq.com\/blog\/wp-json\/wp\/v2\/posts\/78\/revisions"}],"predecessor-version":[{"id":98,"href":"http:\/\/www.syntheticoilhq.com\/blog\/wp-json\/wp\/v2\/posts\/78\/revisions\/98"}],"wp:attachment":[{"href":"http:\/\/www.syntheticoilhq.com\/blog\/wp-json\/wp\/v2\/media?parent=78"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.syntheticoilhq.com\/blog\/wp-json\/wp\/v2\/categories?post=78"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.syntheticoilhq.com\/blog\/wp-json\/wp\/v2\/tags?post=78"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}