Rockets, Toyota Reportedly Extend Naming-rights Deal For Houston Arena

The Rockets and Toyota have reportedly signed an extension of their naming rights deal for the NBA team’s home arena in downtown Houston. Toyota is the world’s largest automobile manufacturer, producing about 10 million vehicles per year.

Per Chandler France of the Houston Business Journal (HBJ), the newly ratified pact is a five-year extension worth at least $7 million annually. The two sides initially signed a 20-year, $100 million agreement when Toyota Center opened in 2003 — and since that deal’s 2023 expiration, the parties had been operating under one-year extension agreements.

“Official contract details are not yet confirmed, but sources did confirm that the deal is signed and approved,” HBJ reports.

Just a few blocks away, Major League Baseball’s Astros went through a stadium name change when Minute Maid Park became Daikin Park earlier this year. But for at least the remainder of the 2020s, no such sponsorship change is on the horizon for the Rockets.

Now in its third decade of use, Toyota Center continues to go through a series of renovations as part of the team’s ongoing effort to keep it in optimal condition for hosting marquee events.

More: Rockets adding new roof to Toyota Center during 2024-25 season

This article originally appeared on Rockets Wire: Rockets, Toyota reportedly extend naming-rights deal for Houston arena