City of Mississauga claims Paramount Fine Foods owes $1.6M in unpaid naming rights fees

City of Mississauga staff say they’ve ended a notable naming rights deal with Paramount Fine Foods, alleging the restaurant chain hasn’t met its payment obligations.

In a statement on the City of Mississauga’s website, municipal officials said that they will drop the Paramount Fine Foods Centre name as of June 1 after nearly eight years. They claimed the restaurant chain owes the City of Mississauga $1.6 million.

“The City unilaterally terminated the contract because Paramount Fine Foods failed to pay the City of Mississauga what it was owed over a prolonged period of time as per the contract terms. The City tried its best to work with Paramount but was unable to reach a resolution and receive payment,” the statement said.

“To recoup these costs, the City will be pursuing legal action in the coming weeks.”

Municipal staff said the City of Mississauga-owned facility will temporarily be known as the Mississauga Sports and Entertainment Centre “while the City undertakes market analysis to understand the value of future naming rights and to secure a new naming partner.”

Mayor Carolyn Parrish issued a statement Tuesday evening that echoed what City staff said.

“After months of discussions, it has become evident that a reasonable conclusion can’t be reached,” she wrote in part.

In a video shot outside the centre and posted to Instagram on Monday, Paramount Fine Foods CEO Mohamad Fakih confirmed the company’s name is being removed from the property.

“Like every sponsorship, there comes a time when one chapter ends and another one begins. After more than a decade, we’ve made the decision to conclude our sponsorship and redirect our community investment toward new initiatives and opportunities across Mississauga,” he said.

“We are excited about what comes next and look forward to sharing those plans with you in the months ahead.”

Fakih went on to thank the municipality and staff at the centre as well as Mississauga residents.

“While our name may no longer be on this building, our commitment to Mississauga remains unchanged. The city is our home. It’s where our journey began, and it will continue to be where we invest our time, our resources and our support for the community,” he said.

Throughout the two-minute-and-32-second video, Fakih didn’t address allegations of non-payment.

CityNews contacted Paramount Fine Foods on Tuesday morning to ask about the City of Mississauga’s announcement. Fakih responded with a follow-up statement.

“I am disappointed that the City of Mississauga chose to issue a misleading public statement rather than complete the mutual termination agreement we had negotiated. Paramount Fine Foods has been ready and willing to pay for nearly six months. That has never been in question,” he said.

“We made several serious, good-faith efforts to resolve this matter responsibly in the interest of protecting Mississauga taxpayers. The timing and manner of this statement, made without notice, mid-negotiation, and in breach of confidentiality, raises serious questions about City Council’s motivations. These are not the actions of a party acting in good faith.”

Located on Rose Cherry Place near Highway 403 and Matheson Boulevard East, the main arena is home to the Raptors 905 team. There are also ice rinks, artificial turf fields, gymnasiums, fitness amenities, a meeting space and a lounge.

“There are no impacts to scheduled programs, bookings, rentals or events at the facility. All bookings will continue as planned, and tickets that reference Paramount Fine Foods Centre will be honoured,” the statement from Mississauga municipal officials said.

“During the transition period, both the former and new facility names may appear in communications, listings and customer materials.”

A concession agreement for the complex will also end at the same time, and the City of Mississauga will assume responsibility for food operations.

“The City’s priority is to minimize disruption while ensuring a high-quality experience for all visitors and guests,” the statement added.

After investing millions into the Paramount Fine Foods Centre during our partnership with the City of Mississauga over the past many years, I was very disappointed to see the City's misleading public statement this morning about the end of that partnership. Since buying back… https://t.co/TwSM8yxxS5

— Mohamad Fakih, C.M. (@mohamadfakih8) May 26, 2026

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— Mayor Carolyn Parrish (@carolynhparrish) May 27, 2026