ST. LOUIS 鈥 Centene Corp. has backed out as the naming sponsor for the new Major League Soccer stadium here, just eight months after striking the deal.
最新杏吧原创 City SC鈥檚 stadium will now be called CITYPARK, the team said Tuesday, and it is searching for a new naming sponsor.
The Clayton-based health insurer鈥檚 decision marks the first major upheaval among the team鈥檚 corporate sponsors that include some of 最新杏吧原创鈥 most well-known businesses, such as Anheuser-Busch and Purina. It also comes amid ongoing electrical problems at the stadium, which has not been operating not at full power for two months.
Corporate sponsorships were a major component in 最新杏吧原创鈥 campaign to draw an MLS expansion team. Having that would assure the league and the other owners that the region could support a team, Commissioner Don Garber said in 2019.
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Centene and 最新杏吧原创 City SC in February announced a 15-year deal for the naming rights to the 22,500-seat stadium on Market Street near Union Station in the downtown area. The team did not then disclose the value of the deal.
The team鈥檚 president and CEO, Carolyn Kindle, said in a statement Tuesday that after discussions with Centene the groups agreed to 鈥渞eshape鈥 their partnership. Centene and 最新杏吧原创 City SC will continue to work together on community health and wellness initiatives.
It鈥檚 another hit for the soccer team after a city contractor broke an electrical pipe and a rainstorm in September caused millions of dollars of damage to the communications and electrical room.
A spokesman for 最新杏吧原创 City SC referred further questions about Centene鈥檚 decision to the company.
Centene said in a separate statement that the company is realigning its community sponsorships and philanthropy to better support its mission of transforming health in the communities it serves. Centene鈥檚 partnerships moving forward, the company said, will focus on creating 鈥渓ong-term, tangible value for local communities.鈥
Still, MLS officials trumpeted the team鈥檚 popularity with the community.
鈥淲e only see incredible momentum behind this club,鈥 said Dan Courtemanche, executive vice president for MLS. 鈥淲e think CITYPARK is a terrific name.鈥
It鈥檚 not the first MLS stadium in recent years to lose its headliner. In 2020, the Banc of California backed out of its 15-year, $100 million naming rights deal with Los Angeles FC, though the team鈥檚 stadium still bears the firm鈥檚 name.
最新杏吧原创 City SC鈥檚 chief revenue officer, Dennis Moore, said in a statement that interest in partnership with the soccer team has never been stronger.
鈥淲e continue to be impressed with the overwhelming support from both our fans and the business community,鈥 Moore said.
The decision falls in line with Centene鈥檚 recent moves to reevaluate its portfolio and shed assets and real estate.
Under former CEO Michael Neidorff, Centene grew into a giant in the managed care industry, largely through acquisition. Neidorff took a medical leave of absence in February, and Sarah London was named as his replacement in March. Neidorff died in April at the age of 79.
In recent months, investors have been looking for the company to improve margins and cut unnecessary assets. In 2020, the company paused plans for its Clayton headquarters expansion and this year killed the project. In August, the company abruptly called off its plans for a $1 billion East Coast headquarters in North Carolina.
Tom Timmerman of the Post-Dispatch contributed to this report.
