The new arena on the Las Vegas Strip is "more than a year away from opening, but it has landed its first major sponsor" in Paris-based energy management company Schneider Electric, according to Alan Snel of the LAS VEGAS REVIEW-JOURNAL. Schneider, which "will create the arena’s power system, has signed a multi-year deal to become a 'founding partner'" for the $375M, 20,000-seat venue being developed by MGM Resorts and
AEG. Both Schneider and the developers "declined to divulge the exact fiscal terms, but it’s at least seven figures for a year, and founding partner deals range from three to 10 years." Schneider Global CMO Chris Hummel noted that the company "was a title sponsor of the Paris Marathon but has not otherwise invested much in sports sponsorships." He added that the arena "offers a good opportunity for a global brand such as Schneider Electric because MGM and
AEG own international properties, which potentially could cultivate business growth through networking." Snel notes the arena "likely will have as many as 10 founding partners."
AEG Senior VP/Global Partnerships Nick Baker said that Schneider "plans to showcase its products and services at a kiosk on the main concourse" (
LAS VEGAS REVIEW-JOURNAL, 2/10).
