The Tacoma Dome could be getting a new name.

The facility is old, losing money and in need of renovations. The city of Tacoma is considering selling the naming rights to the dome as a way to meet its budget needs.

The Tacoma Dome is 30 years old and while it still hold major events, it also costs a lot to operate. In 2011, Tacoma had to subsidize the dome with more than $1 million from its general fund.

Money raised from selling the naming rights could be used to operate and update the facility.

Ten years ago, the idea backfired and the company interested in paying for naming rights -- Comcast -- took its offer up the road to Everett.

The proposal is just in the beginning stages as the city explores its options.

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