NRG in partnership with its sister company Ricoh, the IT giant, signed a £10 million sponsorship deal to secure the international naming rights for the city’s new arena.
The Ricoh Arena, as it will now be known, will be a venue for some of the UK’s most high profile sports and entertainment events attracting big names of the calibre of Kylie Minogue, U2 and David Bowie.
The £113 million multi-purpose development expands over 72 acres and is less than two hours’ drive time for 75% of the mainland UK population.Ricoh has 381 offices around the world with 73,200 employees worldwide. It has a production plant in Telford as well as operations in London, Middlesex and Wellingborough.
For Ricoh, this venue will provide a headquarters from which several new strategic services will be directed, allowing the company to achieve 30 per cent growth over the next three years. Ricoh is already the 8th largest IT company in the world, with number one copier market share in Europe and has existing experience in sponsoring stadiums such as the hugely successful ‘Ricoh Coliseum’ in Toronto, Canada.
Nigel Palmer, MD of NRG UK said: “We are delighted to be involved with such a high profile and exciting development. The Ricoh Arena will act as a real launch pad for our major UK expansion initiative.The Ricoh Arena will be highly visible - passed by 52 million vehicles and with a footfall of 2.5 million people a year, on the flight path for two international airports and rooftop signage purported to be visible from the moon! Paul Fletcher, Chief Executive of Arena Coventry Ltd, which will manage the new development, is delighted with the deal.
He said: “Ricoh is a market leader in its field and a truly international company with multi-million businesses across the globe. It means it is the ideal partner for the Arena, which is one of the most prestigious arenas, conference and exhibition centres in the country.
“The Ricoh Arena will be a landmark building that will create a new gateway into the city and provide one of the most unique facilities in the country.
“We have been working closely with the company in the run-up to today’s signing and are developing very exciting plans for the arena“. I have been involved in two major naming rights in the past but this deal – like the project as a whole – is the best yet and will result in a high profile for the arena and for Ricoh.
”Ken Taylor, leader of Coventry City Council, said the development had already had a positive impact on the city and the region.
“This is fantastic news for the Arena and, more importantly it's fantastic news for the city as a whole. Ricoh is a leader in its field, and the fact that the company has chosen to invest so heavily here cements Coventry's fast growing reputation as a city that's going places. “Our regeneration work that is transforming so much of the city is now getting an international reputation and we're already the third best city in England to do business in. It will continue to flourish, thanks to the hard work of local people, the many assets Coventry has and the growing number of international businesses who want to locate here.
“We're delighted to be welcoming Ricoh to our city as we continue the transformation of Coventry and look ahead to a prosperous future for us all.”
