The Business Times

Unlock Indoor Stadium's branding value

Published Thu, Nov 21, 2013 · 10:00 PM
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THE decision makers got it largely right in the way they eventually awarded the naming rights to the new $1.33 billion Singapore Sports Hub last week, as OCBC Bank made history in clinching a landmark deal worth in excess of $50 million for the next 15 years.

The local bank fended off competition from several other major corporates to seal the largest sports sponsorship deal in Singapore to date. OCBC - which has long been a supporter of local sports - now owns the exclusive naming rights to a multi-purpose indoor arena, an aquatic centre, two club lounges in the National Stadium as well as the VIP lounge in the Singapore Indoor Stadium.

As widely expected, the 55,000-seater National Stadium - the crown jewel of the Sports Hub - was not included as part of the naming rights package. This was in line with the desire to preserve the historic venue - home to so many major events over the decades including famous football victories and the annual National Day Parade - as a Singapore icon.

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