MILWAUKEE (AP) — A hometown company listed on the NASDAQ will get a big boost with basketball and music fans, with its name displayed on the Milwaukee Bucks’ new $524 million arena.
The Bucks and Fiserv Co. announced a 25-year naming rights deal on Thursday for the nearly completed Wisconsin Entertainment and Sports Center in downtown Milwaukee, which opens next month. Financial terms were not disclosed.
The arena will be named Fiserv Forum and will be the new home of the Bucks and Marquette’s men’s basketball team. The arena also is scheduled to be the venue for more than 200 events annually, including concerts by big names such as Justin Timberlake, Pink, Elton John, Fleetwood Mac and the Foo Fighters in its inaugural year.
Fiserv, which has its headquarters in the Milwaukee suburb of Brookfield, has been listed on NASDAQ for more than 30 years. A member of the Fortune 500, Fiserv provides technology that banks and merchants use to move money around.
Until now, Fiserv has not had its name plastered on well-known venues. Jeffery Yabuki, Fiserv CEO, said the company wanted to “give back to the community” and that having the company’s name on the arena will “elevate our brand to a new level.”
Yabuki told the Milwaukee Journal Sentinel the decision will also make Fiserv a place where more young people will want to work. The company, which was valued at about $31 billion on Thursday, employs about 900 people at its corporate headquarters in Brookfield and another 2,000 in the Atlanta suburb of Alpharetta.
Bucks President Peter Feigin said Fiserv’s “exponential success is insane,” and that he and the team’s other owners are pleased to partner with a local company with an international presence.
A public celebration of the new venue is scheduled for Aug. 26. The Killers will headline a grand-opening concert there on Sept. 4.