Scottish Hydro has purchased the naming rights for the Clydeside’s new entertainment venue. The deal is believed to have been inspired by the success of O2 Arena and Emirates Stadium.
The deal was brokered by AEG worldwide and Scottish Hydro has purchased the naming rights for £1.5 million per annum for the next 10 years.
The new development which shall be named the Scottish Hydro Arena is expected to open as early as spring 2013. Initial plans show that the 12,000 seat venue will host around 140 events a year ranging from major sporting events to concerts.
From an economic point of view, it is looking to generate 1 million visitors a year which would put it in the same league as the O2 and Madison Square Gardens. This would in turn generate around £131 million for the Scottish economy.
The SECC’s Chief Executive said "Scottish Hydro shares our vision for the new arena that will position Glasgow and Scotland at the forefront of the global events and entertainment industry."
You can keep up-to-date on the venue's progress by visiting http://www.hydro.co.uk/.
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