Plan to put Kensington Oval naming rights up for sale

Government has announced plans to put the naming rights for Kensington Oval up for sale.

This would allow an entity the exclusive right to name the facility for a set period of time.

The move was announced by Minister in the Ministry of Finance and Economic Affairs, Ryan Straughn.

Mr. Straughn was speaking as the Lower House debated a Resolution to guarantee a 25 million US dollar loan to prepare the facility for the 2024 World Cup.

The seven-year loan from the Africa Export/Import Bank will have a 7% interest rate, and two year moratorium.

Minister Straughn is confident the investment will be recovered given plans for redeveloping the area around the facility.

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