By Mary Klida
Earlier this month the naming rights sponsor for TCF Center, TCF National Bank, announced an anticipated merger with Huntington Bank. Once the merger is completed, TCF Center will bear the Huntington name along with a few other Midwest venues. The naming rights contract for the center will stay the same, only the name will change.
“The merger of these two partners will strengthen every community they call home, including Detroit. Together, they have pledged to bring jobs and programs that drive economic inclusion to Detroit,” said Claude Molinari, general manager of TCF Center/ASM Global. “We will welcome the Huntington name on our center.”
TCF paid $33 million over 22 years for the naming rights of the Detroit convention center in February 2019, making it the largest naming rights deal for a convention center at the time. With the removal of the TCF branding, the TCF Center — recently renamed in late 2019 — will be rebranded with the Huntington name. The merger is expected to close in the mid-2021.
“We are delighted by the news of the merger agreement between Huntington and TCF Bank and congratulate them.” said Larry Alexander, Chairman of the Detroit Regional Convention Facility Authority (DRCFA). “They are remarkable community partners. We look forward to a stronger future together.”
Huntington Bancshares Incorporated — the parent company of Huntington Bank — and TCF Financial Corporation — the parent company of TCF National Bank — announced Dec. 13 that the companies would combine in an all-stock merger, with a total market value of about $22 billion.
Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, TCF will merge into Huntington sometime in mid-2021, and the combined holding company and bank will operate under the Huntington name and brand following the closing of the transaction.
“This partnership will provide us the opportunity for deeper investments in our communities, more jobs in Detroit, an increased commitment in Minneapolis and a better experience for our customers,” said Gary Torgow, executive chairman of TCF Financial Corporation. “We will be a top regional bank, with the scale to compete and the passion to serve. Merging with the Huntington platform will be a great benefit to all of our stakeholders and will drive significant opportunities for our team members.”
As the launch of the venue rebrand approaches in 2021, the TCF Center sales and events team will be in close conversation with customers. Rebranded materials will be sent prior to their events, as was done in 2019 with anticipation of the name change to TCF Center.
Mary Klida is Senior Marketing & Communications Manager at TCF Center.