The Louisville waterfront arena, a US$252 million basketball and multipurpose arena currently in construction on the Ohio River waterfront in Louisville, Kentucky, USA, has secured its first cornerstone sponsor. Norton Healthcare Inc., will pay US$10 million over 10 years and will receive space inside the building to place an immediate-care facility.

The Louisville Arena Authority (LAA), in charge of the project, plan to secure another three to five sponsorships at a similar value of US$1 million per year, while a naming-rights deal for the arena is expected to cost an annual fee of US$2.5 million.

"You've got to do this sort of thing in this economic environment to make things work," said Jim Host, chairman of the LAA. "Companies have money to spend, but they’re not looking for the normal media buy anymore. They want marketing solutions, and this is a great example of a way that the arena can help drive business."

Norton is the largest health care system in the region. It operates 11 similar immediate-care facilities in the Louisville area, as well as five hospitals. The new facility, which will remain open all year round, will be within walking distance of 60,000 workers in the Louisville town centre.

As well as the real estate, Norton will receive signage space on the inside and outside of the arena, and exposure on the arena's video screens. The LAA claims the deal is the first of its kind.