Amway Inks 10-Year, $40M Naming-Rights Deal For New Magic Arena

Magic's New Amway Center Expected To  Open In October '10

The Magic and Amway Global have signed a 10-year, $40M naming-rights deal for the team’s new arena, according to sources cited by Muret & Lombardo of SPORTSBUSINESS JOURNAL. The $480M facility, which will be called Amway Center, is scheduled to open in October ’10. Amway “held right of first refusal to put its name on the new arena after buying naming rights in December 2006 for Amway Arena.” The new contract “calls for Amway to activate its brand throughout the 875,000-square-foot venue, including a fan zone on the main concourse detailing the team’s 20-year history, with particular focus on the company’s Nutrilite-brand vitamins.” A source said that Amway’s brand also will be “exposed through television and radio spots and community relations efforts.” Amway produces XS-brand energy and isotonic drinks, and the source noted that the value of Amway’s deal “could escalate should Pepsi and Gatorade, who hold the rights in those categories at the Magic’s current home, decide against exercising options for the new facility.” Amway “would provide additional cash” if that were the case. The Magic and Amway “talked for the past 15 months about naming rights and early on discussed signing a 20-year contract, but the recession hit and the terms were shortened to 10 years” (SPORTSBUSINESS JOURNAL, 8/3 issue).