Princes Street Gardens ‘naming rights’ for sale

The naming rights of venues and facilities in the new-look Princes Street Gardens in Edinburgh are set to be sold off – as it emerged there is a £19 million shortfall in the funding of a long-awaited venture to create a new outdoor concert and events arena in the park.

Directors of the publicprivate partnership behind the Quaich Project have revealed they will “continue the history of recognising donors who make transformative donations to improve the gardens”, citing the roles played by a gunmaker and a drinks tycoon in the 19th century.

They have admitted they may need to give corporate sponsors “brand profile or other recognition” in return for their backing for the £25 million venture.

However, project leaders insist that the city council will have the “final say” on the locations of all corporate sponsorship in the gardens. They were responding to criticism of secret brochures for a fundraising campaign to help pay for a radical overhaul of the gardens.

Jules Haston, the project’s director of development, said: “Edinburgh is a city built on philanthropy and it’s the farsighted individuals and companies who we have to thank for many of the facilities that we enjoy today.

“The people we’re looking to for monetary support are individuals, charitable trusts and foundations, businesses and the public sector. The people we’re looking to are individuals, charitable trusts and foundations, businesses and the public sector.

“We will continue the history of recognising donors who make transformative donations to improve the gardens. This follows the tradition of the Ross Fountain and the Ross Bandstand, which bear the names of two families who bestowed the gardens with generous gifts.

“Thisrecognitionmayinclude namingrightsofcertainvenues andfacilities;thisisaverycommon method of engaging and profiling supporters.”