Clothing giant Izod has won the naming rights to New Jersey’s Meadowlands arena, previously named for Continental Airlines for 12 years. The arena will be rechristened the Izod Center starting October 31st, when the Nets open their season against the Chicago Bulls.

Izod will pay $1.4 million a year in cash for the first two years of the five-year agreement, which will be cut to $750,000 annually in 2009 when the Nets are expected to move to Brooklyn.

The Nets focused largely on finding a fashion company as the sponsor. The choice was from among the Izod division of Phillips-Van Heusen, Rocawear, and low-end retailer Southpole.

Source: The New York Times