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Arizona iced tea costs 99¢ because the company spends no money on advertising and finds safe ways to cut production costs.

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URI: Feroce still owes $21,000 for advertising at Ryan Center

Join me in making Rhode Island the best state in the nation," Feroce says in a social-media post. "I am going to change your life!" However, URI says Feroce still owes more than $21,000 — almost as much as it costs a Rhode Islander for tuition, room and board — from a marketing agreement for his failed company Benrus. The Journal recently obtained the agreement, invoices and statements from the university through a public-records request. Benrus has been in receivership for months, and multiple creditors are seeking payment. "I am hopeful that all debts owed by BENRUS including URI marketing will be taking [sic] care of through the receivers [sic] recovery process," Feroce wrote in an email Monday. "Once that is completed, if there are any outstanding items then I will discuss them individually with anyone, but I do not see that happening." Feroce was CEO of Alex and Ani when he and the jewelry company's owner, Carolyn Rafaelian, were given honorary doctorates at URI, their alma mater, in 2013. Later that year, URI announced that Alex and Ani had bought the naming rights for the redesigned basketball court at the Thomas M. Ryan Center. After Feroce was abruptly ousted from Alex and Ani in 2014, he decided to pursue Benrus, a military-style watch and backpack company. By July 2015, he had signed an agreement with the contractor that handles advertisements at the Ryan Center.

For the original version including any supplementary images or video, visit http://www.providencejournal.com/news/20180611/uri-feroce-still-owes-21000-for-advertising-at-ryan-center

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