The 18,000 seat arena is currently jointly built by partners AEG and NBA as well as the Oriental Pearl Group (of the Shanghai Media Group) at Shanghai’s World Expo Site. The $280 million stadium is being constructed around the Huangpu River and will have a look reminiscent of a clam or a flying saucer, depending on personal taste. The arena will also include recreational elements such as a cinema, public ice skating rink, bowling alley, live music club, and retail space.
The NBA and AEG have managed to sell the naming rights of this arena for an estimated value of around $100 million to German luxury car maker Mercedes-Benz. The stadium will be ready in time for the 2010 expo set to begin in May, but the deal and naming of the stadium will only begin in 2011 and last a total of 10 years.
Tim Chen, CEO of NBA China, says that Mercedes-Benz Arena will truly become Shanghai’s and all of China’s state-of-the-art showplace for culture, arts, sports and entertainment events.
