The New Orleans Arena is no longer. Yesterday the Pelicans announced that they had reached a 10 year agreement with the company 'Smoothie King' for the naming rights to the arena.
And thus, the Smoothie King Center has been born. Financial details of the deal have not been disclosed, but estimates point to a possible figure of around $40 million for the ten years.
"It’s gigantic,’’ Pelicans president Dennis Lauscha said Wednesday afternoon. "Aside from the branding of the team, besides the practice facility, finding a naming rights partner was key to the long-term financial viability of this franchise in this market.We put it right at the top of the list of things that needed to be accomplished.’’
Smoothie King is a local company with it's headquarters based in Louisiana boasting 75 employees at the New Orleans base in addition to 675 stores in the U.S., South Korea and Singapore.
The entrance to the arena will now feature two 20-foot high Smoothie King cups that will be in place in time for next weekend's NBA All-Star Game. The company's logo will also be on the roof of the arena, with two Smoothie King concession stands inside the center.