The Baltimore Arena will be known as the Royal Farms Arena as of Nov. 1.
The convenience store company has signed a five-year, $1.25 million deal with the city for naming rights to the 52-year-old building, according to an item on the agenda for Wednesday’s Board of Estimates meeting.
Terms of the agreement also give Royal Farms “first rights of negotiation for the existing location and for a significantly redeveloped existing location or new venue of the Arena,” according to the agenda item.
SMG, the arena’s operator, will receive $200,000, including a $50,000 “finder’s fee” for a subcontractor obtaining Royal Farms as a title sponsor, according to the agenda item. The remainder of the money will go toward new signs for the building.
Baltimore-based Royal Farms takes over the title sponsorship of the arena from another local company, 1st Mariner Bank. The bank signed a 10-year contract for naming rights that ended Jan. 1, 2013 and paid the city $75,000 per year.
The venue was known as the Baltimore Civic Center when it opened in 1962 and became the Baltimore Arena in 1986.
Royal Farms has 160 stores in Maryland, Delaware, Virginia and Pennsylvania.