New NeckarPark hall to be named "Porsche Arena"Negotiations between automobile manufacturer and City of Stuttgart come to successful conclusion
Stuttgart. Dr. Ing. h.c. F. Porsche AG, Stuttgart, has acquired the rights to name the new arena currently under construction in Stuttgart's NeckarPark for a period of 20 years for a sum of €10 million. The complex, which is situated next to the Hanns-Martin-Schleyer-Halle, is scheduled for completion in May 2006 and, depending on the event, offers enough room for up to 7,500 guests. As of now, this edifice is to be known as the "Porsche Arena". Corresponding contract negotiations between the Zuffenhausen sports car manufacturer and the City of Stuttgart have now been brought to a successful conclusion.
Dr. Wendelin Wiedeking, CEO of Porsche AG commented: "This decision is about more than just loyalty to our hometown. As a successful company, we also want to fulfill our responsibility to the community. The new Porsche Arena will provide the people of Stuttgart and the region with a range of interesting events that will further enhance the attractiveness of the state capital." The automobile manufacturer has announced that, in future, it will be holding its Annual General Meeting and the Porsche Tennis Grand Prix in the new arena.
"I am delighted that our negotiations with Porsche AG have come to a successful conclusion. This naming is a further visible indication of the connection between Porsche and Stuttgart, and at the same time it is a clear signal for Stuttgart as an center of business," emphasized the Lord Mayor Dr. Wolfgang Schuster on Wednesday. "With Porsche as our premium partner, we will also have excellent strategic market opportunities to attract events to Stuttgart and market the infrastructure of the hall."
Schuster thanked Wiedeking for his clear statements regarding events. "We are extremely glad that the Porsche Arena will be the meeting point for shareholders at their Annual General Meetings. The Porsche Tennis Grand Prix is a first-rate international sporting event that suits the new arena perfectly."