Birmingham's iconic NEC Arena is to have a new look and name through a £28 million funding package that includes a major sponsorship deal with global electronic giants LG.
The concert and event venue, which welcomes one million visitors every year, will be officially renamed the LG Arena this Autumn and work will start in September on creating brand new seating, hospitality, bars, restaurants and other essential customer facilities as well as improved backstage areas.
The sponsorship deal with the world-wide technology manufacturer and innovator in electronics, famed for its motto 'Life's Good', will help support repayment of the £28 million redevelopment of The NEC Arena into a must visit, world class venue.
Birmingham City Council will provide funding through a £25 million loan which will be serviced and repaid by improved financial performance from The NEC Arena. An application for a grant of the £3 million balance is currently being considered by development agency Advantage West Midlands.
The redevelopment of the venue, which has helped boost the reputation and the economy of the region since it opened its doors 28 years ago, will ensure that Birmingham stays firmly on the map as a must stop city on major UK and international tours during a buoyant live touring market, and will provide visitors with a 21st century total entertainment experience.
The multi-million pound improvement works are essential to improve ageing facilities and infrastructure and help the venue compete in a global marketplace with a host of newer venues.
Paul Thandi, Chief Executive, The NEC Group, said:
"LG Electronics is a fitting sponsor for The NEC Arena, with our unique synergy around enjoying life and discovering the future through live events or high specification technology.
"We are proud to have a new world class partner investing in our business and in the West Midlands as a whole and helping us to create a legacy for future generations."
Phil Mead, Managing Director, The NEC Group Arenas, said:
"This exciting redevelopment means we will be able to offer our visitors an outstanding entertainment experience from start to finish at a world class venue.
"Our capacity will be increased by around 2,000 for the benefit of promoters and major selling acts but also the flexible seating and draping systems will provide more intimate theatre style configurations."
Andrew Warner, marketing director of LG UK comments:
"This partnership mirrors LG's brand values as a leading lifestyle company which puts its customers at the heart of everything it does. The LG Arena will provide entertainment that is high quality, distinctive and engaging to all visitors – we're very excited to be creating a world class experience."
Birmingham City Council Leader, Councillor Mike Whitby, said:
"The NEC Arena is already one of the region's biggest attractions, welcoming one million visitors each year. Today's announcement underpins the achievements of The NEC Group to date and demonstrates the confidence that global partner LG has in its business. These are exciting times, as these two world-class organisations come together in order to drive forward and build on current successes, to position the arena as a truly world-class venue."
Mark Pearce, Corporate Director Economic Regeneration, at Advantage West Midlands, added:
"Conference and event tourism is a competitive strength for the West Midlands region.
"The redevelopment programme will deliver an Arena that raises the profile of Birmingham in target markets, underpins event-related economic impact, protects and grows the region's major events programme, and provides an enhanced entertainment experience for visitors.
"A world class venue such as that now planned for The NEC Arena will play a part in helping the region achieve its vision to be a global centre where people and businesses choose to connect."
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