Mississauga is trying to recover $1.6 million from a former arena sponsor at the same time it needs to protect the commercial value of the same venue for the next sponsor.
The city-owned Paramount Fine Foods Centre will lose its name on June 1, 2026, after Mississauga ended its arrangement with Paramount Fine Foods, the restaurant brand attached to the arena since 2018. Until a new naming-rights buyer is found, the complex will operate under a generic civic label: Mississauga Sports and Entertainment Centre.
The temporary name is the clean part. The money is not.
Mississauga says Paramount owes $1.6 million tied to the terminated agreement and that it intends to take legal action to recover the amount. The city describes the issue as a prolonged failure to meet payment terms. Paramount, through founder and CEO Mohamad Fakih, is contesting the city’s version of events.
The city says it tried to reach a resolution before terminating the agreement. Mayor Carolyn Parrish posted a letter addressed to Mississauga taxpayers saying Paramount had failed to pay the city over an extended period and that the municipality would pursue legal action to recoup the money.
Fakih’s account is materially different. In a statement, he said Paramount had invested millions into the centre during the partnership and had been ready to pay for more than six months. He accused city management of making a one-sided announcement while talks were still active.
CityNews also reported that Fakih had earlier posted a video saying Paramount had decided to end the sponsorship and redirect community investment elsewhere in Mississauga. The outlet noted that the video did not address the city’s non-payment allegations.
Parrish later replied on X to criticism of the city’s approach by saying there had been a non-disclosure agreement that Fakih breached.
The facility remains a valuable municipal asset. The complex includes the main spectator arena, community rinks, sports fields, dome facilities and other sports infrastructure. It is also home to Raptors 905, the NBA G League affiliate of the Toronto Raptors.
But Mississauga’s next naming-rights search now begins under unusual conditions. A new partner will not only price the venue’s audience reach, event calendar and civic visibility. It will also see how the last deal ended: with an unpaid-balance allegation, a public exchange between the mayor and the company’s founder, and the city preparing legal action.
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