PNC Arena to be renamed Lenovo Center
Add Axios as your preferred source to
see more of our stories on Google.
Rendering courtesy of the Carolina Hurricanes
PNC Arena in Raleigh will soon be renamed Lenovo Center.
Why it matters: The home of the Carolina Hurricanes and N.C. State men's basketball has been known as the PNC Arena for about 12 years. The facility, opened in 1999, is slated to soon begin a $300 million renovation.
Context: Arena owner Centennial Authority approved a naming rights agreement between computer maker Lenovo, one of the largest employers in Research Triangle Park, and the Carolina Hurricanes, according to a statement Thursday.
- The agreement will run for 10 years, through the 2033-34 National Hockey League season.
- The deal is worth $60 million, Hurricanes spokesperson Mike Sundheim tells Axios. The arena's previous naming rights agreement was a 20-year, $80 million deal.
What they're saying: "Lenovo has been a valued partner of ours for many years," Hurricanes CEO Brian Fork said. "Lenovo has both strong local ties and a worldwide footprint, and we're proud to have the Hurricanes' name associated with a true leader in global technology."
Between the lines: PNC Bank's naming rights agreement ended on Aug. 31 and its signage began coming down on Monday morning. That day, the team said they signed a new deal with PNC to sponsor the arena's club and club-level seating.
Flashback: The arena opened in 1999 as the Raleigh Entertainment & Sports Arena.
- It was known as the RBC Center from 2002 to 2012, when PNC acquired RBC, and the arena's name changed to PNC Arena.
Editor's note: We've updated this story with details about the financial terms of the naming rights deal.