There are a lot of changes going in Orlando. The Magic finally won a Finals game. They have set themselves up to be perennial contenders. They will open a new arena in the 2010 season.
One thing isn’t changing. The Magic have agreed with Amway Corp on a deal for naming rights on the Orlando Events Center. Rather than being called the Amway Arena like the current arena is, it will be called the Amway Center. Magic owner Rich De Vos is the Co-founder of Amway Corp.
According to Josh Robbins of the Orlando Sentinel, the deal is worth $40 million over 10 years.
The latest agreement is tied for the sixth-largest total price for an NBA naming-rights agreement, according to Sports Business Journal, which first reported the deal on Monday.
“I think that it’s a good deal [for the Magic],” said Smith College professor Andrew Zimbalist, who has written extensively about sports economics. “The thing about naming-rights deals is that the market is very thin. It’s sort of like selling a luxury house. If the right person comes along at the right time, you can get a good price.”
The Amway Center is set to be ready for opening night in 2010 and is costing an estimated $480 million to build.
Just another reason that it’s an exciting time to be a Magic fan.
Extra Link: Sir Charles In Charge has a nice article ranking the top 5 most reliable GMs. They rank our own Otis Smith at #5 despite many of his seemingly unconventional moves. Check it out here.
(Andrew Melnick is Howard the Dunk’s lead blogger.Subscribe to his RSS feed and add him on Twitter to follow him daily. Check out his ACC Football preview here.)
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