Siemens Arena will keep its name for another year

For at least one more year the name of one of the better known venues in Europe shall remain the same as it’s been for the last decade.

The company which owns the arena reached an agreement with Siemens to use the name of the German company as the name of the arena. The previous decade-long deal expired on November 1.

In a statement both parties said that the deal has been mutually beneficial and eventually it was decided to sign a new agreement for another year.

Since its opening on October 30, 2004 Siemens Arena has become the home venue of Lietuvos Rytas and has since hosted a large number of top level basketball games such as EuroBasket 2011 second round, two Euroleague Qualifying Tournaments, Euroleague regular season and Top 16 games.

With the capacity of 10,000 for basketball games Siemens Arena is the largest in Lithuanian capital.