name on a new hockey arena being built in downtown Newark, the owner of the New Jersey Devils said yesterday.
Prudential Center, Jeff Vanderbeek, principal owner of the to the short strokes."
The deal could be for as long as 20 years, another person familiar with the talks said.
Last month, Citigroup unveiled a deal with the New York Mets baseball team's new stadium being built in Queens.
Prudential, the insurance and financial services giant whose logo and ad campaigns feature a rock, was assumed to be a strong candidate to buy the 18,000-seat arena's naming rights from the beginning, sports marketing consultants said. The company's headquarters on Broad construction at Lafayette and Broad streets.
In addition, Prudential has long been committed to Newark, both financially and physically. The company was than $6 million to organizations in Newark.
rights for the arena, set to open in October, but declined to comment further.
Frank Vuono, principal at sports marketing firm 16W Marketing in Rutherford, said he considered the agreement a great deal for the Devils.
"It's smart for Prudential," Vuono said. "The new arena will get a lot of publicity, so they'll get their share of exposure.
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