MillerCoors may want you to drink responsibly, but they’re prepared to help you get home if you don’t.
MillerCoors became the official sponsor of the New Year’s Eve “Penny Ride” program through the Chicago Transit Authority, CTA President Forrest Claypool announced Wednesday.
“This agreement is one which maintains an important tradition which CTA customers have come to depend on,” said Chicago Transit Board Chairman Terry Peterson. “It also brings additional revenue to the CTA at a time when it’s greatly needed.”
The three-year agreement with a three-year extension option is sticker priced at $1.36 million, not including additional revenue in advertising for the two companies.
The alcoholic beverage business headquartered in Chicago received a 30 percent discount on any additional advertising on the CTA rail system, and CTA receives a 62.5 percent share of the revenue.
Now in its 26th year, the program averages about 170,000 bus and train rides.
"This agreement will help maintain a tradition of safe, convenient and low-cost transportation for those celebrating the New Year,” Claypool said.