Photo Source: Venues Today
March 17, 2012
Like American Airlines and Target, PNC Financial now possesses the naming rights to two professional sports venues; PNC Park in Pittsburgh and PNC Arena in Raleigh. After ten seasons as the RBC Center (Royal Bank of Canada), the NHL's Carolina Hurricanes will be playing in a newly named NHL arena. PNC Financial has purchased RBC, thus, inheriting the naming rights to the arena. The bank is becoming a banking powerhouse by acquisition after already purchasing National City Bank a few years back.
There were more than 600 RBC references throughout the arena and the arena grounds that had to be changed or altered, a process that took close to six months. The process also costed the franchise around 1 million dollars in labor and fees. Still, a process that includes the cost of doing business. PNC Arena is not just an NHL arena either, it is also home to college basketball's North Carolina State Wolfpack.
The city of Raleigh inherited the Hurricanes in 1997 when Peter Karmanos moved the Whalers out of Hartford, Connecticut. Hartford struggle in a market torn between New York and Boston. For the franchise's first two seasons in North Carolina, the Hurricanes played their games in Greensboro at the old Greensboro Coliseum. Attendance was poor but has stayed steady since the Hurricanes brought the Stanley Cup to Raleigh in 2005.
Many speculate that the acquisition will create a huge rate of unemployment of former RBC workers. However, PNC officials have stated that they are trying to maintain as many workers as possible at local branches.