Renderings for the PNC Arena in Raleigh, N.C. which will officially change its name in March

PNC Arena, Raleigh, N.C.

Date Announced: Dec. 15

Owner/Tenant: Centennial Authority/Gale Force Sports & Entertainment

Terms: $4.2 million with 11 years remaining on 20-year contract

The RBC Center in Raleigh is now the PNC Arena after the Royal Bank of Canada (RBC) was purchased in June as part of a $3.45-billion deal.

The naming rights agreement is expected to take effect in March 2012 after regulators sign off on the acquisition. The Pittsburgh-based bank and financial services company operates community bank branches and has the third largest holding of nonbranch ATM machines. The Pittsburgh Pirates play at PNC Park.

“Once they get the deal approved, we’ll do the behind the scenes work of changing the letterhead, changing the napkins and doing all of the things you have to do with the things that have RBC Center written on them,” said Dave Olsen, RBC Center's vice president and general manager.

PNC will assume the contract first signed by RBC Center in 2002 — a 20-year deal worth $4.2 million.

“The money is divided between Gale Force (owners of the team), NC State (which also uses the arena) and the Centennial Authority.

The PNC Arena is home to the Carolina Hurricanes of the National Hockey League.

Contact: Crystal Pace, (919) 861-5470