Western Australia’s Perth Arena has announced that its founding partner, motoring services company RAC, has taken on naming rights to the facility.
From September 1, the multi-purpose, 15,500-seat venue will become the RAC Arena.
Perth Arena serves as the home of National Basketball League outfit the Perth Wildcats, while it also hosts the Hopman Cup tennis tournament.
Terms of the arena’s contract with RAC were not disclosed, but the news.com.au website reported that the five-year deal will be worth about Aus$10m.
Perth Arena general manager Michael Scott said: “Having been a close partner since 2013 we’re very excited to announce RAC as our new naming rights partner. RAC is a brand synonymous with excellent member service, and with over a million West Australians being RAC members, it’s a brand we know and trust.
“After the successful launch of the RAC Local Lounge earlier this year, we’re excited to see where this next level of partnership can take us and the people of Western Australia.”
The arena opened in 2012 with an Elton John concert and the facility now holds an average of 80 events per year. Last year, the venue ranked at No.5 in Billboard’s list of top worldwide venues of its size for ticket sales.
Back in 2012, the facility had been set to change its name to Suncorp Arena before the deal was vetoed to ensure that ‘Perth’ remained its official title. The state government in Western Australia feels the decision to rename the arena now will prove beneficial for all parties.
A government spokesman told the WAtoday website: “Importantly, we have ended the ridiculous arrangement put in place by the former government where taxpayers were forced to pay more than Aus$8m compensation for the venue to not have a naming-rights sponsor.
“Naming-rights sponsorships are common at major venues in Australia and across the world. The venue is world-class and will remain so, whatever it is called. The state government does not have the luxury of squandering this important, guaranteed revenue stream. The state’s finances are simply not in a position where we could pass up this opportunity.”
The RAC deal comes after Australian telco Optus earlier this year took on naming rights to the new 60,000-seat Perth Stadium, which opened in January.
Image: Perth Arena