Springfield’s JQH Arena may soon have a new name — and the millions of dollars that the name of a prominent arena can fetch.
Missouri State University will receive $10.2 million — and regain naming rights for the arena — under a settlement it reached with JD Holdings, LLC.
John Q. Hammons, the Springfield developer who died in 2013, had promised millions of dollars to the university. However, the hotel company founded by and named for Hammons filed for bankruptcy in 2016, when $22 million of the amount Hammons had promised to the university was still outstanding.
The MSU Board of Governors approved an agreement with JD Holdings in September, and officials said a name change could happen quickly.
The university’s general counsel said “fair market value” for the naming rights is between $5 million and $10 million.
Read more: Springfield News-Leader