22 Jun 2013

Southland stadium naming rights awarded

1:33 pm on 22 June 2013

Naming rights for Southland's new indoor stadium have been sold to the Invercargill Licensing Trust and the Southern Institute of Technology for $1.4 million.

The soon-to-be-completed stadium is being rebuilt after its roof collapsed during a heavy snowfall in 2010.

The Licensing Trust has bought the right to name the netball stadium while the Institute of Technology will lend its name to the adjoining velodrome.

The deal was done by an independent committee established to maximise revenue from the sale of naming rights.

Earlier this year it was reported the committee refused to release a probity auditor's report which may have been critical of its processes.

The Licensing Trust has also provided a $3.6 million grant to the stadium which is still facing a funding shortfall of $1.5 million.