DETROIT (CelebrityAccess) — Detroit Red Wings owners Olympia Entertainment, has signed a deal that will see their new, under-construction sports and entertainment complex named Little Caesars Arena.
Under the terms of the 20-year agreement, the pizza franchise will pay approximately $6.25 million for naming rights to the 20,000-capacity arena.
In addition, Little Caesars will become the official Detroit Red Wings Web site and social media presenting sponsor starting with the 2017-18 NHL season. The agreement is estimated to be the largest investment in a naming sponsorship for a building whose sole professional sport is hockey.
The arena, which is scheduled to open in September, 2017 after a build-out estimated to cost $627 million. The facility is part of a wider commercial, residential and entertainment development in midtown Detroit.
The Little Caesars chain is owned by Red Wings chairman Mike Ilitch and his family.
"We’ve experienced an incredible response from our fans, our partners and the community as the vision for this new facility and The District Detroit have begun to come to life," said Tom Wilson, president and CEO of Olympia Entertainment. “There’s been quite the buzz about what company would have its brand aligned with this best-in-class facility and the storied Detroit Red Wings franchise, and we know that Little Caesars is the perfect fit for this arena and everything it represents for our hockey club, our organization, this community and our great city." – Staff Writers