The Continental Airlines Arena in East Rutherford, N.J., will soon be renamed the Izod Center.
Phillips Van Heusen Corp., which owns Izod, has been awarded the naming rights to the sports, concert and family entertainment facility, which is operated by the New Jersey Sports & Exposition Authority. Under a five-year contract, PVH has agreed to pay $1.4 million a year for the naming rights.
The complex will be rechristened the Izod Center in time for the New Jersey Nets' opening game against the Chicago Bulls on Oct. 31. In addition to being home to the NBA's Nets, the arena hosts 185 events throughout the year ranging from concerts by Bruce Springsteen and Van Halen to family events such as Disney on Ice and the Ringling Bros. and Barnum & Bailey Circus.
The New Jersey Devils, who have played at the arena since 1982, are moving to Newark's Prudential Center, scheduled to open this month. The Nets plan to move to a Brooklyn arena as soon as 2009.
The facility is in the Meadowlands Sports Complex, next to Meadowlands Racetrack, Giants Stadium and the Xanadu retail and entertainment complex, which is under construction.
The NJSEA chose Izod's offer over a $1.4 million bid from Rocawear and a $2.1 million bid from Southpole. Izod's bid was selected because the company agreed to advertise the arena and its programming on TV, in print, cinema and outdoors. Izod plans to create a lifestyle marketing campaign that will connect the arena's activities and its consumer base with the brand and its consumer base, in the areas of sports, music and family. Izod will spend more than $600,000 in marketing expenditures both nationally and locally and $100,000 in employee uniforms.
"We are marketers by birth. We saw the opportunity as a great platform to do something innovative around lifestyle marketing," said Allen Sirkin, president and chief operating officer of PVH.
He said Izod, which makes women's, men's and children's apparel, will cross-market with retailers and consumers.
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