State Farm insurance company and the Atlanta Hawks reached a groundbreaking deal that would change the name of Philips Arena to State Farm Arena, it was announced Wednesday.

Philips Arena is in the midst of a massive reconstruction project that promises to make the complex Atlanta’s new hub for downtown nightlife, a place where “the lights never go out,” the Hawks have touted. The facility is set to reopen in time to celebrate the team’s 50th year in Atlanta in October.

Atlanta’s newest sports venue: State Farm Arena

Sports venue branding has become commonplace among professional sports teams in the NBA, NFL and MLB. The teams benefit from financial backing and the companies use the brand exposure as a civic badge.

Philips Arena debuted in 1999, a time when the Hawks were perennial 50-game winners and the Braves were competing for downtown sports fans’ attention. Nearly 20 years later, both teams face different landscapes.

The Hawks will now play under a red State Farm logo which will be prominently displayed at the top of the arena in downtown Atlanta. Other amenities in the new space will include a huge video board system, rapper Killer Mike’s barbershop, Zack Brown’s BBQ restaurant and a Top Golf.

“Our objective was to create an experience with the Hawks that brought together cutting-edge technology, storytelling and physical space to excite, inspire and persuade visitors,” said Jeff Alpen, Hornall Anderson Managing Director. “The space is a beautiful combination of innovation, exploration and function and celebrates the uniqueness and vibrancy of Atlanta and its people.”

Downtown Atlanta is enjoying a renaissance when it comes to sports venues. Last year, the city christened Mercedes Benz Stadium.

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