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Bank of America Backs Out of Looptopia Sponsorship

By Margaret Lyons in News on Mar 17, 2008 10:36PM

2008_2_17.looptopia.jpgLast year, LaSalle Bank sponsored Looptopia. And they said they'd do it again...except Bank of America bought La Salle Bank, and now BoA is backing out of the deal. And Looptopia is in a few months. Uh, shit!

BoA says they dropped Looptopia they want to "spread out the sponsorships," and given that they only had a verbal commitment to Looptopia, that's within their rights. It just seems like kind of a dick move, no? Reps for Looptopia say they're scaling back--the executive director of the Loop Alliance called it "value-engineering," which ranks up there with "signage" on corporate-speak grossometer--but that the show will go on.

This is the second try for the massive arts event, which drew an unexpected 200,000 people last year after organizers planned on more like 70,000 showing up. [Crain's]