The name of the Allstate Arena, Rosemont's 34-year-old sports and concert venue, is staying put for at least another decade.
The village board this week renewed a naming rights agreement with Northbrook-based Allstate Corporation that will keep the insurance giant's name on the village-owned stadium until 2024.
The deal is worth $15 million over the course of the next 10 years, officials said.
Allstate approached village officials in 1999 about the possibility of renaming what was then known as the Rosemont Horizon. Under the first agreement, Allstate paid about $10 million over the course of 10 years, and then renewed for $5 million for an additional five years.
Plans now call for Allstate's logo to be placed on top of the stadium -- not unlike other company-sponsored stadiums nationwide, including the United Center in Chicago. It's unclear how the logo will be positioned -- whether it would just be visible from airplanes, or also from cars along the Jane Addams Tollway, said Pat Nagle, the stadium's executive director.
The billboard and digital sign along the tollway also will be replaced.
"It's seen its life as far as the technology on that board," Nagle said.
The new agreement will allow Allstate use of the stadium for an upcoming charity concert event.
The village's original agreement with Allstate helped fund a $20 million renovation in 1999 that included wider seating, revamped concourse areas, new facade, improved sightlines and acoustics.
The 18,500-seat stadium recently added a Jack Daniel's club on the upper east side of the building as part of a sponsorship agreement.
Nagle said boilers and air conditioning units also will be upgraded, but he doesn't anticipate any additional major work for the stadium.