MOLINE, Ill. — The MARK is back.
At a press conference held on Thursday, Aug. 18, Scott Mullen, the TaxSlayer Center's Executive Director, announced the new name for the iconic Moline event center coming on September 1: Vibrant Arena at The MARK.
The name change comes with a partnership with Vibrant, a Moline-based credit union, financial services and insurance company with locations across the Quad City area and the nation.
The presentation began with a highlight reel of the center's construction, history, and prominent events before revealing the new owner of the naming rights in mockup images.
Matt McCombs, Vibrant's President & CEO, says that the 10-year, $4 million agreement will come with upgrades to the center, like a new special events area, lounge, and updated interior look. The deal also comes with benefits for Vibrant members.
And they're excited to bring back the building's classic name.
“The Quad Cities is our home, it’s part of who we are, and it means a lot to be the first local business to hold the naming rights to this arena. Many of us started seeing concerts at The MARK back in the 1990s, and nodding back to those roots in the new name was part of our discussions from the very beginning. We see this as our opportunity to invest in our community in a way that has a positive impact on everyone here," McCombs said.
“It’s great that Vibrant was willing to incorporate The MARK back into the building name,” says Illinois Quad City Civic Center Authority Chair, Stacy Happ, “The MARK was such a source of pride over the years and acknowledging that heritage illustrates Vibrant’s understanding and appreciation of our community.”
Mullen also addressed the now-ending agreement with Taxslayer, which was a 10-year $3.3 million deal, which is expiring several years ahead of schedule due to various factors.
The deal as it was written contained a 7-year out clause if either party wanted to end the contract and the COVID-19 pandemic resulted in a freezing of the agreement for the 16 months the center was closed.
According to Mullen, the center had an arrangement with TaxSlayer where, if the center could shop around and find a better deal, the current agreement could be ended.
“TaxSlayer has been a tremendous partner since 2017 and they graciously allowed us to shop the market to pursue other companies for a more attractive deal,” says Mullen, “I am extremely pleased that it has worked out so well for all involved.”