Philips Arena in Atlanta is being renamed for State Farm after a $192.5 million renovation.
The Atlanta Hawks and the insurance company announced Wednesday they have reached a 20-year deal on the naming rights for the arena, which is currently in the final phase of its renovation. The arena is expected to reopen in October as the Hawks celebrate their 50th year in Atlanta. Officials wouldn’t say how much State Farm paid.
The Hawks had played in Philips Arena since its opening in 1999.
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