Goodbye, Philips Arena.
Since 1999, the Atlanta Hawks have played in Philips Arena. The almost 20 year era is over.
The Atlanta Hawks and State Farm have reached an agreement on the naming rights of Philips Arena. The new deal is reportedly worth $175 million dollars and is for 20 years. The deal with also have the same terms as Philips.
Per the State Farm Arena website:
The Atlanta Hawks Basketball Club and State Farm announced a 20-year collaboration that will benefit the Atlanta metropolitan area aimed at building stronger communities through mentorship, volunteerism and the principle of being a good neighbor. A nationally-renowned company and one of Georgia’s top employers, State Farm will join forces with the Hawks, displaying their iconic red logo and marks atop and throughout the best sports and live entertainment venue in Atlanta – the new State Farm Arena – and building new community engagement programs and philanthropic initiatives.
“This decision symbolizes our pledge to making a difference in communities, building our brand locally and nationally, and ultimately growing State Farm,” said State Farm Chairman and Chief Executive Officer Michael Tipsord in a release. “The Atlanta Hawks Basketball Club is well known for giving back in this community. Along with our Neighborhood of Good initiative, we’ll have new opportunities to invest in the local community.”
The arena formerly known as Philips Arena has undergone a $192.5 million dollar renovation process over the past two years. The renovations are scheduled to be completed just in time for the Hawks 2018-19 season in October. What’s included in these renovations? The third largest NBA scoreboard, Topgolf Swing Suites, Killer Mike’s SWAG Shop, the signature Haeks Bar and the NBA’s first courstide bar. Fans will be able to see the new arena on October 20th with the “Welcome to the Neighborhood” Open House Party which is a free, public event. You can find more about State Farm Arena here.