Bear Mountain Arena is expected to have a new name by April.
Naming rights for the 3,000-seat arena expired at the end of 2013.
That 10-year-agreement saw the Bear Mountain organization pay $25,000 each year.
The West Shore Parks and Recreation Society met this week and selected one bidder “in principle,” said Colwood Coun. Rob Martin and society chairman on Friday.
“Now, it is going to staff to negotiate the actual contract.”
If all goes as planned, the new name will be announced by April 1, he said. The preferred bidder’s name is confidential for now.
The society extended its bidding process for the naming rights in the winter because of a shortage of offers, an official said earlier.
That extension to early December was “beneficial,” Martin said.
He would not say how many bids were received.
