If you've got millions, does the Port Authority have a deal for you! The Port Authority is considering bids for naming rights to the bus terminal. And some companies might be interested, since it's in the hubbub of Times Square, even though some critics think people might be confused.
But PA officials doubt that even the most ardent preservationists would bemoan the loss of "Port Authority Bus Terminal" from the cityscape.
And money earned by changing the name to Verizon Terminal or Nike Bus Station, for example, could be used to further renovate and improve the long-lackluster facilities, sources said.
Millions of dollars in upgrades have been made to the station since it was a glorified homeless shelter in the 1970s and '80s. But it would take assistance from the private sector to make the terminal - used by 200,000 people each day - a destination in its own right, sources said
Even if the name were changed, we doubt people would refer to it as anything besides from the Port Authority for at least 5 years (while Brendan Byrne Arena was renamed the Continental Airlines Arena, most people just say "the Meadowlands"). And if the PA will use the money to improve the terminal, we'd welcome it. Our recommendation: Fung Wah Terminal.
Oh, and the MTA will be presenting guidelines on how to move forward with selling sponsorships and names of subway stations to the board later this year.