RALEIGH — For the fourth time in a quarter century, the home of the NHL’s Carolina Hurricanes and NC State men’s basketball has a new name.
The Centennial Authority officially unveiled Lenovo as the new title sponsor for the Raleigh arena and announced its new name will be Lenovo Center.
“Lenovo has called North Carolina home for 20 years,” David Hamilton, director of communications for Lenovo North America, said last Thursday. “This shows our commitment to the area as a good corporate citizen and community partner.”
Lenovo replaces PNC Bank as the primary sponsor of the facility, which had been called PNC Arena since 2012 when the company acquired RBC Bank’s U.S. holdings. Prior to that, the nearly 20,000-seat facility was called RBC Center from 2002-12 and, initially, the Raleigh Entertainment and Sports Arena for its first three seasons.
Lenovo, a Chinese computer hardware company, has one of its headquarters in Morrisville, along with hubs in Hong Kong and Beijing. The arena naming agreement is $60 million for 10 years and expands on Lenovo’s previous sponsorship of the Hurricanes, which includes being the team’s helmet sponsor.
“Lenovo has been a valued partner of ours for many years,” said Brian Fork, CEO of Hurricanes Holdings. “We’re thrilled to elevate that partnership now by renaming the arena Lenovo Center. 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. As we transition to this new era, we are grateful for our longtime naming rights collaborator, PNC, who will continue to be a major partner of our organization.”
PNC Bank signed a multiyear deal to sponsor two branded sections of the arena: the PNC Victory Club and PNC Club Level.
The renaming of the arena arrives as big changes are coming to the facility and its surrounding area. Lenovo Center will undergo $300 million in renovations in the coming years.
The 80 acres around the arena will also receive a major facelift as Hurricanes owner Tom Dundon negotiated the rights to develop the surrounding area as part of a new lease agreement for the NHL team with the Centennial Authority.
The $200 million first phase of the development will include a 4,300-seat music venue, retail and restaurant offerings, a hotel, apartments and office space. Overall, Dundon has committed to spending $800 million on the development.
