Ricoh are delighted to have signed a £10 million sponsorship deal to secure the international naming rights for Coventry City’s new arena.
Prestige and visibility
The Ricoh Arena is part of a £113 million multi-purpose development, which extends over 72 acres and is less than two hours drive away for 75% of the mainland UK population. It will host some of the UK’s most high profile sports and entertainment events, attracting big names such as Kylie Minogue, U2 and David Bowie.
It will also be highly visible. Both on land, with 2.5 million people visiting it and 52 million vehicles driving past each year. And in the air, since it is on the flight path for two international airports and has rooftop signage purported to be visible from the moon!
Mixing business with pleasure
For Ricoh, the venue will also provide a headquarters from which to direct several new strategic services. Ricoh already has 381 offices and 73,200 employees worldwide, including a production plant in Telford and operations in London, Middlesex and Wellingborough. However, expansion in Coventry will enable the company to achieve its 30% growth target over the next three
years.
Ricoh is the 8th largest IT company in the world, and is number one in terms of market share the European copier market. It also has existing experience of sponsoring stadiums, such as the hugely successful Ricoh Coliseum in Toronto, Canada.
Takahisa Yokoo, MD of Ricoh UK Ltd, said: “We are delighted to be involved with such a high profile and exciting development. The Ricoh Arena will be a real launch pad for our major UK expansion initiative.
Paul Fletcher, Chief Executive of Arena Coventry Ltd, which will manage the new development, is also delighted with the deal.
He commented, “Ricoh is a market leader in its field and a truly international company with multi-million businesses across the globe. This makes it the ideal partner for the Arena, which is one of the most prestigious event, conference and exhibition centres in the country.”
He also talked about the boost to the local community. “The Ricoh Arena will be a landmark building, creating a new gateway into the city and providing one of the most spectacular facilities in the country. We have been working closely with the company in the run-up to today’s signing and are developing very exciting plans for the arena. I have been involved in two major naming rights in the past but this deal – like the project as a whole – is the best yet and will result in a high profile for the arena, the city and for Ricoh.”
Ken Taylor, leader of Coventry City Council, observed that the development had already had a positive impact on the city and the region.
“This is fantastic news for the Arena and, more importantly it's fantastic news for Coventry. Ricoh is a leader in its field. The fact that the company has chosen to invest so heavily here, cements our fast growing reputation as a city that's going places.”
He went on “Our regeneration work has transformed so much of the city and is now getting an international reputation. In fact, we're already the third best city in England to do business in. Coventry will continue to flourish thanks to the hard work of local people, the many assets it has, and the growing number of international businesses who want to locate here.”
He concluded “We're delighted to be welcoming Ricoh to Coventry, as we continue the transformation of our city and look to a prosperous future for us all.”