Naming rights sale at Palmerston North Stadium to herald arrival of Central Energy Trust Arena

A multimillion-dollar deal that will see the Central Energy Trust take up the naming-rights for Palmerston North's main stadium will contribute to upgrades at the venue.

A 10-year partnership between the Palmerston North City Council and Central Energy Trust will see the venue named the Central Energy Trust Arena and heralds ongoing development of the sports facility.

The memorandum of understanding will see the Trust invest a total of $2.2 million and the city council $17.5million over a 10-year period. The Council money had already been budgeted in its long-term planning.

Commenting on the partnership, Palmerston North Mayor Grant Smith stated “we have secured the future of Arena.”

Explaining that cities were often judged on the quality of their facilities, Mayor Smith added "we've got a stadium to be proud of.

"For the size of our region our stadium is still credible and now we have a long-term plan underpinned by a significant partner."

Central Energy Trust Chairman Sir Brian Elwood explained “our announcement illustrates two things; support for major regional facilities and support for long-term planning and funding over a period of years.

"The development of Arena will be one of those important amenities that will be a catalyst and a supporter of economic growth and development."

The deal covers the whole arena complex, and llows second- and third-tier additional sponsorship, which means the B&M Centre and the Steelfort Lounge will remain.

Known as FMG Stadium until the end of June this, the former sponsor chose not to renew its naming rights for the main stadium earlier this year.

FMG took up the naming rights to Arena 1, also known as the Oval, in 2005 in a deal worth more than $500,000.

The stadium has been known as Arena Manawatu since July.

31st July 2015 - FMG SECURES NAMING RIGHTS FOR WAIKATO STADIUM

10th April 2015 - NEW NAMING RIGHTS SPONSOR SOUGHT FOR ARENA MANAWATU STADIUM

6th June 2008 - BIG PLANS FOR ARENA MANAWATU