Mercedes makes history with groundbreaking China deal 08/12/2009 |
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Mercedes-Benz has signed the first-ever naming rights deal in China.
The German automotive giant has agreed a 10-year partnership with a new sports and entertainment venue in Shanghai that will be known as the Mercedes-Benz Arena when it opens in 2011.
The 18,000-seat arena is being jointly developed at a cost of US$280m by state-owned company Oriental Pearl Group, sports and entertainment giant AEG and the National Basketball Association (NBA).
In October 2008, the NBA announced plans to build about a dozen new arenas in China in partnership with AEG. The NBA’s China-dedicated division, along with AEG, will design, market and operate multi-purpose “NBA-style” arenas in major Chinese cities, with the Mercedes-Benz Arena set to become the first of these venues.
The exploits of players such as Yao Ming, who plays for the NBA’s Houston Rockets, have helped to establish basketball as the most popular sport in China. Since 1987, when NBA games were first aired on China Central Television (CCTV), an estimated 300 million Chinese people have becomes fans of the sport, according to the Chinese Basketball Association (CBA).
NBA China chief executive Tim Chen said: “The Mercedes-Benz Arena will truly become Shanghai and China’s state-of-the-art showplace for culture, arts, sports and entertainment events. With the help of our partners, we are certain this arena will be the premier destination for sports, entertainment and cultural events in Shanghai.”
The arena will be the only Mercedes-Benz named venue outside of Germany.
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