Birmingham's NEC Arena is to be renamed the LG Arena after a new multi-million pound sponsorship deal for the conferencing and exhibitions venue was finalised with the South Korean electronics giant.
The midlands [CAP UP] venue has had its current name for almost 30 years, becoming one of the most recognized names in the conferencing industry.
However, with the city having benefited from a massive regeneration project over the past few years, it was deemed only right that the NEC should also be given a makeover, with plans drawn up to create an entirely new and updated arena.
This will entail the expansion of the seating areas and the venue's hospitality facilities, with the total cost of the regeneration to cost around £28 million.
While this price tag will be partly met by Birmingham City Council, which has already agreed to loan the venue's owners the NEC Group a significant sum, in addition money provided by the regional development agency Advantage West Midlands, the new sponsorship deal with LG is likely to go a long way towards helping Birmingham boast a state-of-the-art concert and conferencing venue.
Commenting on the deal, Paul Thandi, chief executive of the NEC Group, said: "LG Electronics is a fitting sponsor for the NEC Arena, with our unique synergy around enjoying life and discovering the future through live events or high specification technology.
"We want to be a trail-blazing organisation, a place where people come to discover the future. We want to put the customer experience back at the heart of our company."
(Related categories of interest see Birmingham Venues)