Tuesday, January 15, 2013

Phantoms announce partnership, possible arena name to follow?

Boyertown, Pa. - January 15, 2013 - National Penn Bancshares, Inc. and the Phantoms, the American Hockey League's top development team of the NHL's Philadelphia Flyers, announced today that National Penn has become a founding partner of the future Lehigh Valley team and the Allentown arena where it will begin playing in the fall of 2014. 
Addition ally, National Penn will be the official bank of the Lehigh Valley Phantoms as well as the only bank to be a founding partner of the arena. The announcements were made jointly by David Kennedy, National Penn's senior executive vice president and chief banking officer, and Jim and Rob Brooks, co-owners of the Phantoms. Details of the long-term, multiyear agreement were not disclosed.

"National Penn has been a proud and confident supporter of the arena project and the transformation of downtown Allentown since the earliest stages," Kennedy said. "With National Penn's new corporate headquarters being built across the street from where the arena will stand, we look forward to growing the National Penn brand alongside the Lehigh Valley Phantoms brand-in Allentown and beyond. We're certain that significant cross-marketing opportunities will arise through our partnership."

National Penn helped make Allentown's arena project possible by leading a $35 million loan facility in 2011 to help cover the cost of the arena site acquisition and preparation. The new arena at Seventh and Hamilton streets will be the center of the Lehigh Valley and is a catalyst for the renovation and revitalization of downtown Allentown. Scheduled to open in the summer of 2014, the arena will seat 8,500 people for hockey and up to 10,000 for concerts and other events, such as college and high school sporting events, Cirque du Soleil and family programs like Disney on Ice and Harlem Globetrotters games.

In October 2012, National Penn announced it will relocate its corporate headquarters to Seventh and Hamilton streets, bringing approximately 275 employees to the coming Two City Center building, which is scheduled to be completed in the spring of 2014.
"This is another outstanding collaboration for the Phantoms," Rob Brooks said. "National Penn continues to take a bold leadership role in the redevelopment of the Allentown community, and we are thrilled to be expanding our relationship with them through this founding partnership."

National Penn joins team and arena founding partners Lehigh Valley Health Network, Service Electric Cable TV and Communications, Air Products and Capital BlueCross. The partnership was facilitated by Front Row Marketing Services, a subsidiary of the sports and entertainment firm Comcast-Spectacor.

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