Australian financial services company MyState Bank has acquired naming rights to the under-renovation Derwent Entertainment Centre, while English League One football club Crewe Alexandra has sold naming rights to its home stadium for the first time.

Located in Glenorchy, a suburb of Hobart, the newly-renamed MyState Bank Arena is undergoing a A$56m (£30.6m/€35.7m/$43.2m) revamp to become the heart of Tasmanian entertainment and sport.

MyState has agreed a three-year naming rights sponsorship of the venue, which first opened in 1989. MyState managing director and CEO, Melos Sulicich, said: “The redevelopment will provide Tasmania with the ability to host major concerts and live performances, as well as becoming the home of the JackJumpers that will see the state re-enter the National Basketball League (NBL) after a 25-year hiatus.

“It will be the centre of entertainment and sport in the state and we are excited to be a part of this great initiative. The MyState Bank Arena will give Tasmanians a never-before experience in terms of comfort, enjoyment and entertainment.”

Sulicich added: “We have determined a very focused and accelerated strategy that builds on MyState’s high customer advocacy that has given us a significant opportunity to rapidly grow our business. The MyState Bank Arena naming rights is a major promotional component of that strategy.”

The redevelopment of MyState Bank Arena, along with future operation and management of the venue, is being led by the LK Group. In March, PTI Digital was appointed by the NBL to deliver a technology roadmap for the redevelopment of the venue.

LK Stadiums Tasmania director and LK Group chairman, Larry Kestelman, said: “MyState Bank Arena will be a game changer for Tasmania’s entertainment and sport industry. The world-class, state of the art venue will bring the biggest events to Tasmania and give all Tasmanians an experience like never before.”

Meanwhile, breakfast cereals manufacturer Mornflake has stepped up its backing of Crewe by taking naming rights to the club’s home of 115 years. Mornflake has been Crewe’s principal partner since 2005 and has now signed an initial three-year deal to sponsor its Gresty Road stadium.

Mornflake Stadium will be the new name of the venue through to at least the end of the 2023-24 season, with the contract valued at £500,000 (€582,000/$705,000), according to the BBC. Crewe said the new agreement represents the single biggest partnership in the club’s history.

Crewe chairman Charles Grant said: “We are so lucky to have Mornflake supporting our football club in the unwavering way that they do. The difference they have made to Crewe Alexandra over the last two decades is enormous and extremely valued, and we are very proud to rename our home ‘Mornflake Stadium’.

“This takes our strong relationship to yet another level, and we are excited to know we will be continuing to work together over the coming seasons.”

Mornflake is one of Crewe’s largest employers and has operated a mill on Gresty Road since the war years. The family-run firm last year entered into a new four-year shirt sponsorship deal, and also sponsored the back of the Crewe shirt.

Image: MyState Bank Arena