Pine Bluff-based Simmons Bank announced on Friday it has completed the acquisition of naming rights to North Little Rock’s Verizon Arena.
The arena is an 18,000-seat multi-purpose arena located on the banks of the Arkansas River. It will be renamed to Simmons Bank Arena in 2019. The bank and arena agreed to a 15-year naming rights deal worth a total value of $10.5 million.
“This is an exciting opportunity for Simmons Bank, and we are proud to be associated with an organization that does so much for our economy, while providing some of the best entertainment in the region,” George Makris, chairman and CEO of Simmons First National Corporation, said in a news release. “Sponsorships are an increasingly important component to our marketing strategy, and naming rights opportunities have only grown in value. It’s a wonderful channel to engage customers.”
Since opening its doors in October 1999, the arena has played host to scores of concerts from major touring acts such as Elton John, Paul McCartney, The Eagles, Tom Petty and the Heartbreakers, Rolling Stones, Pearl Jam, Red Hot Chili Peppers, Foo Fighters, Stevie Wonder and many more. It has also welcomed sporting and entertainment events such as Arkansas Razorback basketball, Cirque Du Soliel, Disney on Ice, Harlem Globetrotters and others.
Rhett Tucker, chairman of the Arena Board, said in the release that the arena was excited to have Simmons Bank as its new naming rights partner.
“Their investment in our arena will allow us to make improvements and continue to bring top quality events to Arkansas,” he said.
Michael Marion, the arena general manager added that the naming rights agreement was good for the arena because it will keep the building updated and ready for the future.
“We look forward to making great music together,” Marion said.
The arena sees more than 400,000 guests pass through its doors each year, and averages in the top 35 in ticket sales nationally and in the top 70 worldwide for arenas, according to Pollstar Magazine.
For tickets, event details or other information, visit verizonarena.com.