FirstOntario Copps Coliseum?

It's unclear what the sign will eventually say, but the Hamilton credit union is behind a deal to pay for the naming rights of the downtown arena and concert venue.

Neither venue operator Global Spectrum nor FirstOntario would officially comment on the deal that will be presented to city councillors Wednesday. But several sources have confirmed the partnership to The Spectator.

Details are not publicly known, including how much FirstOntario will pay. Global Spectrum has requested that its presentation be made behind closed doors to the city's general issues committee.

Downtown Councillor Jason Farr says the decision to look at renaming the 29-year-old Copps Coliseum was made two years ago when the city signed off on a memorandum of understanding to find a private operator for Copps and Hamilton Place.

Selling naming rights was a part of that contract, but council does have the right to reject any deal.

Global Spectrum has said the Copps name will continue to be associated with the Bay Street facility in some way.

Renaming will no doubt be controversial, but Farr says he's had a few "good conversations" with former Hamilton MP and cabinet minister Sheila Copps about the issue and there are additional ways in which the city can honour the legacy of her father.

Farr says he's been impressed with how Global Spectrum has handled the matter, including its discussions with the Copps family.

He points out that this process is unfolding much differently than that of the Ticats' move to rename Ivor Wynne. Council was not given a chance to endorse the new moniker of Tim Hortons Field before it was unveiled publicly.

The credit union's chief operating officer Dave Schurman declined to comment Friday, while pointing out FirstOntario is already a sponsor of the Hamilton Bulldogs and the Copps box office.

"Beyond that we could not comment on your questions on naming rights out of our respect to the process that the City of Hamilton and Global Spectrum are going through with their major sponsors and, of course, in great respect of the Copps family," Schurman said Friday afternoon.

Scott Warren, Global Spectrum's general manager in Hamilton, also declined to comment.

"It is important to me that we present to the general issues committee before discussing naming rights with the media," Warren said.

"While I certainly understand the passion this topic rouses, it's imperative that we respect the process. Global Spectrum is committed to honouring the legacy of Victor K. Copps and I look forward to the opportunity to present to council on Wednesday."

Copps was the patriarch of a Hamilton political dynasty that included his wife, Geraldine, a longtime alderman. He served as mayor from 1962 to 1976 and died in 1988.

FirstOntario is the largest financial institution with a headquarters in Hamilton and was founded here in 1939.

Mandeep Malik, a marketing professor at the DeGroote School of Business at McMaster, says FirstOntario's local roots may soften any opposition to a corporate name on the building.

"There may be emotional resistance or roadblocks, but if they give a good experience and customer service, that's what will count. The impact of the change will start to shrink."

Keanin Loomis, CEO of the Hamilton Chamber of Commerce, says renaming is a delicate issue, but satisfying the Copps family is all that should matter.

"(FirstOntario is) born and raise and headquartered here, so I know they fully understand the sensitivities around this."

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Some commenters said everyone will still call the venue Copps, while others said FirstOntario would do better investing directly in sports groups.

Some social media users just poked fun at the issue.

Twitter user @conwayze wrote: (sic) "I'm just glad its not being renamed "Payday loans coliseum," while @Rhooka said: "the FOCU Arena? Nice."