Nov 14, 2014
By Scott Walker
The home of the New York Philharmonic at Lincoln Centre is getting a new name.
The change comes after the Philharmonic reached an agreement with the family of Avery Fisher. His name has adorned the concert hall since he made a 10.5-million-dollar donation in 1973.
The hall is in need of renovations that are estimated to cost half a billion dollars. The Philharmonic felt that a large portion of that money could be raised by offering naming rights.
The Fisher family agreed, and will receive 15-million dollars in compensation, and a guarantee that Avery Fisher’s name will still be honoured.
How much could the naming rights be worth now? Oil-and-gas billionaire David H. Koch found his name on the nearby New York State Theatre six years ago after a donation of 100-million dollars.