A LANDMARK naming rights deal has been struck for Coventry’s Ricoh Arena.
The venue will be known as the Coventry Building Society Arena for the next ten years.
The sponsorship by the UK’s second largest building society, one of the country’s top ten best employers, underlines the organisation’s commitment to the city and the wider region and its desire to put the Coventry name firmly on the national map.
As part of the first change of name to the venue since it opened in 2005, the Coventry Building Society brand will be prominent inside and outside and the agreement will see the two organisations working together to develop and deliver programmes to benefit of the wider local community.
The Ricoh is home to Wasps Rugby and Wasps Netball and will welcome back Coventry City Football Club in August, before hosting a Rugby League World Cup clash in October. It is also a key venue for the Coventry UK City of Culture and next year’s Birmingham Commonwealth Games.
Stephen Vaughan, chief executive of Wasps Group which owns the Ricoh, said: “We are thrilled to be joining forces with Coventry Building Society as we embark on a hugely exciting period for the venue with the imminent return of Wasps and Coventry City supporters, along with the reopening of our conferencing, event facilities and hotel.
“This is far more than simply a naming rights deal – we absolutely had to ensure that we united with an organisation that shares our vision for the arena and our values around what we want to deliver in the wider community.
“Coventry Building Society’s plans underpin ours in so many ways, so the fit is really strong and we will put the arena and its fantastic facilities at the heart of our plans.
He added both the venue and the building society had strong local routes and a national reach and thanked Ricoh for being a ‘brilliant sponsor’ over the years.
Steve Hughes, CEO of Coventry Building Society, said the joining of two of the area’s biggest brands would form a ‘fantastic partnership’.
“The Coventry Building Society Arena puts our name on the map and will raise our profile across the UK.
“We already have more than 2million members, but this is a statement of intent that shows we want to grow further and help many more people achieve their financial aspirations.”
Darin Landon, the building society’s chief commercial officer, said both organisations already worked to support local communities across Coventry and Warwickshire.
“By joining forces, we plan to make the Coventry Building Society Arena a focal point for the community, bringing together people and organisations across the city to make a positive difference to everyone who lives here.
“Many of our members and our colleagues are proud Wasps and Coventry City supporters. I hope that they’ll be excited to see our name on the stadium and see this partnership develop over the next ten years.”
Adam Benson, Wasps’ chief commercial officer, added it was a perfect fit as Coventry Building Society and Wasps understood the vital role they had to play in making a difference to the communities they lived and worked in.
“These shared values will allow us to create a unique partnership for the benefit of everyone – members, supporters, customers, employees and local residents.”