OCBC gets naming rights to parts of Sports Hub
IT WAS not quite the entire Sports Hub, but history was made yesterday when OCBC Bank signed a 15-year deal for naming rights to five facilities at the upcoming project at Kallang.
The contract, in excess of $50 million, is being hailed as the largest sports sponsorship deal in Singapore.
It would have been larger, had a reported $120 million deal for rights to the whole Sports Hub - bar the National Stadium - gone through.
News on that possibility broke last year. But it sparked public feedback that the name of the $1.33-billion facility - ready next year - should not be commercialised.
The new National Stadium and the Singapore Indoor Stadium within the 35ha hub will remain free from commercial naming rights.
Acting Minister for Culture, Community and Youth Lawrence Wong said yesterday: "We were very mindful of preserving the public character of the Sports Hub project. At the same time...it was important to get corporate sponsorship for venues."
OCBC will own naming rights to a multi-purpose indoor arena, an aquatic centre, two club lounges at the National Stadium and the VIP lounge at the Indoor Stadium. Said its group chief executive Samuel Tsien: "We ...appreciate the Government's decision to safeguard the long-term interests of the project, which is tied to having a national icon that Singaporeans can be proud of, and having it free from commercial naming rights."