A rendering for the new signage at Qantas Credit Union Arena in Sydney.
The former Sydney Entertainment Centre will be removed to make way for the new International Convention Centre Sydney (ICC Sydney), but the 13,250-capacity facility has secured its place in Sydney until December 2015 with the announcement of a naming rights deal with Qantas Credit Union.
“The business case for the Sydney Entertainment Centre to remain open until December 2015 was predicated on securing sponsorship revenue,” said Qantas Credit Union Arena General Manager Steve Hevern. “Qantas Credit Union has stepped up to the plate in being a major contributor to this to guarantee that everyone can continue to enjoy this amazing venue for another two years.”
The venue’s commercial team and AEG’s Global Partnerships division began looking for potential naming rights sponsors last summer, focusing on companies in the middle of rebranding, new businesses to the area, firms looking to raise their profiles, and leading firms in the B2C industries. AEG Ogden manages the facility.
Qantas Credit Union proved to be a good fit because both firms share a common philosophy.
“Given that Qantas Credit Union and [formerly] Sydney Entertainment Centre have always been customer oriented and focused on exceeding customer expectations, our philosophies fit hand in glove,” said Hevern, adding that it’s “no cliché.”
“This is a very exciting and passionate forum to deliver that ethos,” Hevern said.
A rendering of signage at the newly-renamed Qantas Credit Union Arena in Sydney.
Since 1983, more than 26 million fans have come through the venue’s doors for more than 4,000 events. Qantas Credit Union began in 1959 and is a customer-owned organization.
“Partnering with such an important Sydney icon will give us the opportunity to spread the word about where Australians can get a better deal for their banking, as well as giving back to our members with a number of promotional opportunities we are currently working on with AEG Ogden,” said Qantas Credit Union’s CEO Scott King in a press release.
“Unlike the banks, we’re a mutual so our shareholders are our 90,000 members,” King added. “The more we grow, the more we give back in the form of great rates and fairer fees.”
The credit union has never previously entered into a naming rights agreement. According to Hevern, the fact that this agreement has a short lifespan with the impending demolition provided a low-risk opportunity for Qantas Credit Union to enter the naming rights realm.
Qantas Credit Union Arena is in the process of advising its database of the name change and changing signage, providing substantial promotion for the credit union. Signage is expected to be in place in time for Dolly Parton’s performance at the arena, Feb. 18.
“Additional benefits include giving the venue one last ‘face lift’ and, being a two-year term, it lowers the risk and financial outlay for Qantas Credit Union,” said Hevern. “This is especially true considering this is the first agreement of its kind that the brand has entered into.”
“Furthermore, given the finite period that we are working with, both parties are very keen to start implementing the range of benefits immediately for everyone to be able to take advantage of,” he added.
The benefits package with Qantas Credit Union was a mixture of core rights provided to every naming rights partner — including branding, hospitality, use of the venue’s image and access to its database — as well as ‘bespoke rights,’ which were selected based on the company’s objectives.
The additional rights include a member and prospect VIP lounge and use of corporate-function areas. Qantas Credit Union will also provide the venue with two ATM machines.
Queens of the Stone Age and Nine Inch Nails will perform March 6, followed by Bruno Mars March 8. Other major concerts include Thirty Seconds to Mars, March 29; Dave Matthews Band, April 15; and Arctic Monkeys, May 6.
Interviewed for this story: Steve Hevern and Scott King, (02) 9555 5807