”
Wembley Arena will be renamed as part of a lucrative deal with one the UK’s biggest energy companies.
From June the iconic venue will be called The SSE Arena in a multi-million deal which will last 10 years.
While the value of the contract has not been disclosed, a spokesman for SSE confirmed that the figure is in excess of £10million.
US live music firm, AEG, which has been running the venue on Engineer’s Way since last year, said the money from the deal will be use to improve current facilities all aimed at blustering the consumer experience.
SSE customers will receive perks as part of the deal, including fast track entry and exclusive access to lounges.
Wembley Arena, built in 1934, was used for the swimming, diving, water polo and boxing events at the 1948 London Olympics before going on to host some of the biggest music talents such as Madonna and the Beatles, as well as events including the XFactor finals and snooker Masters tournament.
Paul Samuels, executive vice president of AEG, told the Times the name change is part of the £3.4billion 85-acre regeneration Wembley Park development.
He added: “We needed to explore new revenue streams so that we could continue to improve on an already excellent arena and naming rights is a huge part of that.”
“If you look at other arenas nationally you’ll notice that Wembley Arena is probably the only venue without a naming right.”
“We are quite confident that with the right marketing and PR, the new name will be wholly accepted.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here