Philips Arena in Atlanta is being renamed for State Farm after a $192.5 million renovation.
The Atlanta Hawks and the insurance company announced Wednesday they have reached a 20-year deal on the naming rights for the arena, which is currently in the final phase of its renovation. The arena is expected to reopen in October as the Hawks celebrate their 50th year in Atlanta. Officials wouldn’t say how much State Farm paid.
The Hawks had played in Philips Arena since its opening in 1999.
The State Farm red logo will be displayed at the top of the arena, which might be one of the smallest-capacity NBA venues with 17,600 seats. Its amenities will include a new state-of-the-art video board system, three times larger than the current one, along rapper Killer Mike’s barbershop, Zack Brown’s BBQ restaurant, a fantasy golf area, club lounge and premium seating areas with couches and cabanas.
“It’s going to be a social place unlike anywhere else in the NBA,” Hawks CEO Steve Koonin told The Associated Press in a recent interview. “All of our research told us that people don’t want to sit down in a chair eating a hot dog out of aluminum foil and watch a game. They want a great night out. … Think Vegas pool meets sporting event.”
