Financial technology company Acrisure has acquired naming rights to the under-construction Coachella Valley Arena in Palm Springs, California.
Acrisure has agreed a 10-year deal with Oak View Group, operator of the 11,500-seat arena which will host more than 150 major events annually and serve as the home of the Coachella Valley Firebirds American Hockey League team.
Acrisure Arena is scheduled to open in time for the 2022-23 AHL season, which will mark the Firebirds’ debut in the competition. The Firebirds are owned and operated by the Seattle Kraken NHL franchise.
As well as naming rights to the arena, Acrisure will benefit from permanent exterior signage, entitlement to the venue’s largest premium private hospitality space, and prominent logo placement on the roof, centre ice and scoreboards.
Acrisure partners, customers and employees will also receive extensive VIP hospitality opportunities. Financial terms of the deal, which marks Acrisure’s first sponsorship of a stadium or arena, were not disclosed.
Greg Williams, co-founder, chief executive and president of Acrisure, said: “The Acrisure Arena reflects our commitment to raising awareness of the multiple financial solutions we’re proud to offer our customers. California is home to the greatest number of Acrisure clients and is the perfect market for us to enter into this type of naming-rights opportunity.
“As we’ve grown significantly, we are proud to contribute to the continued growth and development of the Coachella Valley and look forward to the benefits this facility brings to the local community as well as our customers.”
Tim Leiweke, chief executive of Oak View Group and leader of the arena project, added: “Acrisure Arena will be the crown jewel of the entire Coachella Valley and a major destination for the biggest artists, concerts, and sporting events in the world.
“Acrisure and Oak View Group are dedicated to using this platform to improve the lives of everyone in the Coachella Valley.”
Acrisure Arena will span more than 300,000 square feet, with the venue to feature modern suites and four premium hospitality clubs available only to 920 premium seat and suite ticketholders. The arena will also have an adjoining facility that will serve as a year-round community gathering space and training centre for the Firebirds.
The project is privately funded and is costing around $300m (£224m/€269m) to build. The project received unanimous approval from the Riverside County Board of Supervisors in May last year.
Acrisure is based in Grand Rapids, Michigan. The company has grown its revenue from $38m to $3.3bn in just over eight years and currently maintains locations in nine countries.