First Premier Bank, Premier Bank Card and Sanford Health have signed a 25-year agreement for the naming rights to the Denny Sanford Premier Center in Sioux Falls, South Dakota.
Sioux Falls mayor Mike Huether signed the agreement, worth a reported US$20 million, on Monday 17th September and it is believed to be one of the largest deals of its sort in US history.
The deal includes exclusive naming rights to the current arena and convention centre and allows for additional sponsorship inside the arena. The deal also gives Sanford Health and Premier Bank, both owned by South Dakota businessman T. Denny Sanford, exclusive rights to naming rights beyond the 25-year agreement.
Miles Beacom of Premier Bank Card said: “It will be one incredible events centre that we're going to have open to the public in two years. We are very excited about this partnership and we can't wait until that first band will be here.”
Construction of the US$115 million centre began last month and is due for completion by autumn 2014.
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