Fiat Chrysler Automobiles' U.S. unit has bought the naming rights to a pair of high-visibility entertainment venues near its headquarters in Auburn Hills, Mich.
The Palace of Auburn Hills, home to the Detroit Pistons NBA franchise and numerous other events during the year, said in a statement on Wednesday that it will now call its West Atrium the "Dodge Atrium."
Terms of the deal were not disclosed, but in January, Dennis Mannion, CEO of Palace Sports & Entertainment LLC, told Crain’s Detroit Business that he expected naming rights for the West Atrium to sell for at least $1 million annually.
Palace Sports, the management company for the 27-year-old, 22,076-seat arena, last year hired Santa Monica, Calif.-based Premier Partnerships to aid in brokering a deal for the venue’s naming rights.
Palace owner Tom Gores spent more than $1 million to renovate the space as part of a $40 million, three-year package of improvements at the arena, which has been home to the Pistons since 1988.
The West Atrium upgrades included new lighting, high-definition video boards and updates to the Pistons Locker Room Store and ticket windows.
At Palace Sports' nearby DTE Energy Music Theatre, the 520-person Ivy Lounge will now be called the "Jeep Ivy Lounge." It’s for use of DTE Royal Members before, during and after shows, and for parties and events. FCA will display vehicles at the atrium and lounge as part of the deal, and signs will be installed.