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Prudential Financial and the New Jersey Devils hockey team today completed an agreement under which Prudential will pay a total of $106 million over 20 years for naming rights to the Devils arena under construction in downtown Newark. The arena, to be called Prudential Center, will house thePrudential Financial and the New Jersey Devils hockey team today completed an agreement under which Prudential will pay a total of $106 million over 20 years for naming rights to the Devils arena under construction in downtown Newark. The arena, to be called Prudential Center, will house the Devils, a new indoor soccer league franchise and concerts and other events.

“Prudential Center will be a beautiful new arena that will help bring economic growth, excitement and a championship team to Prudential’s hometown of Newark,” said Art Ryan, Prudential chairman and CEO. “We look forward to all of the benefits it will bring to our community.

The $375 million Devils arena, toward which Newark is paying $210 million, is scheduled to open for the 2007-2008 hockey season.