For Sale: Naming Rights to Broke Japan City
It's called Izumisano, for now
By John Johnson, Newser Staff
Posted Nov 1, 2012 6:52 PM CDT
Izumisano is broke.   (Shutterstock)

(Newser) – It's come to this in Izumisano, Japan: The city is so broke it hopes to sell its naming rights to the highest bidder, reports AFP. Izumisano owes more than $1 billion to creditors, mainly because it sank so much money into "building roads and other infrastructure" to its remote airport, says one official. Bids will be accepted until Nov. 30, but so far, most of the response has come from ticked-off residents. A deep-pocketed company is the big hope, unless there's a person out there, somewhere, with an outsized wallet and ego to match.