Raleigh’s largest sports and indoor concert venue is getting a new name. The RBC Center will be called the PNC Arena.
Like dozens of arena renamings before it, this one comes because of a corporate takeover. Pittsburgh-based PNC Financial Services bought Canadian-based RBC Bank for $3.45 billion back in June. The deal is subject to regulatory approval.
It’s not the first time the arena has changed its name. When it opened in 1999, it was dubbed the Raleigh Entertainment and Sports Arena. Most of the $160 million construction cost was paid for by a hotel and restaurant tax. It’s home to the Carolina Hurricanes and the NC State men’s basketball team.
In 2002, RBC bought 20-year naming rights for $80 million. The new name – PNC Arena – will take effect in March.