Public names in public places. It’s the thing to do today. And now, T-Mobile, the self-described “un-carrier” has joined its direct competitors by inking a fat deal to put its name on a sports and entertainment arena. This one is the new, still under construction Las Vegas sports and entertainment palace just off the Las Vegas strip that will seat 20,000 patrons.
“We’re going to light up Las Vegas in magenta and give everyone who visits T-Mobile Arena a chance to experience what it means to be Un-carrier!” said Mike Sievert, chief operating officer of T-Mobile. “T-Mobile Arena will have the biggest shows in a town known for big shows and T-Mobile customers will always be treated like VIPs with priority access and exclusive benefits.”
Events confirmed for the T-Mobile Arena opening season include Opening Night, starring The Killers on April 6, UFC 200 in July, Harlem Globetrotters, George Strait, Garth Brooks, Dixie Chicks, Janet Jackson, UNLV/Duke college basketball, and the 2016 PBR World Finals. The venue will have numerous VIP experiences, highlighted by Hyde Lounge, an exclusive nightclub with unrivaled views of all the sports and entertainment action below.
While the exact amount T-Mobile spent to have its name on the venue isn’t clear, the Las Vegas Review-Journal reports it’s “less than $6 million a year” and reports that annual values for current and recent arena naming rights deals typically run from $2 million to $10 million. For example, Barclays PLC is paying about $200 million for 20 years — or an average of $10 million annually — at the Barclays Center in Brooklyn, home of the NBA Brooklyn Nets. Meanwhile, Staples pays $6 million a year for its naming rights deal at the Staples Center, which is owned by AEG and is the downtown Los Angeles home to the NBA Lakers and Clippers and NHL Kings.
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