Xcel Energy Center to be renamed "Extraction Dome"
Who won the naming rights? Plus, free anti-gambling disclosures throughout this article (they don't need those if they use NEON!)
When Xcel Energy, Minnesota’s largest investor-owned utility polluter, decided it was not renewing its naming rights to the arena in 2024, many top brand names lobbied for the spot. Saint Paul residents loudly wondered what color neon sign they would see reflecting off the clouds all winter.
Owners of the (previously Xcel) building property management group recruited for the new name under one condition: provide a regular and strong monetary allowance for the honor.
Who won the bidding war?
Extractive Industries Inc. (EII) is an American multinational investment company. Founded in 1977, initially as an enterprise risk management and fixed income institutional asset manager, EII is the world's largest asset manager, with US $11.5 trillion in assets under management as of 2024. Headquartered in Robbinsdale, EII has 70 offices in 30 countries, and now 14 sports stadiums in 8 countries.
“We are excited to continue doing in Saint Paul what we love in every city we operate in: Extract!” said EII CEO Todd Jurles after the news broke. “Extraction Dome is our new name and we hope concertgoers, sports fans, and monster truckers from the midwest all embrace our ethos.”
Some other names options included:
"Interest Rate Field", which bidder JPMorgan Chase Bank offered $14.5 million per year (plus interest).
“Chevron Coliseum”, which oil tycoon-bidder Chevron was denied after they only wanted to host gasoline-fueled WWE matches
“Wells Fargo’s Death Zone”, which Minneapolis based Wells Fargo was mandated by court order to bid based on a reconciliatory action from a class action case they settled on in 1963.
“3M’s 4th M”, which Mississippi watershed based chemical giant 3M had hoped to land.
