The Orlando arena, home to the Orlando Magic (NBA), Orlando Predators (AFL), as well as other sporting and entertainment events, will become Amway Arena. The re-naming reflects a multi-year alliance formed by Amway, the City of Orlando and the Orlando Magic.

The agreement will go before the Orlando City Council on Monday, December 11, 2006, for approval. Amway will also have an exclusive future negotiation period once the deal ends.

Amway, founded in 1959 by Magic owner Rich DeVos and his best friend, Jay Van Andel, is one of the world's leading direct-selling companies. It is the largest operating unit of parent company Alticor Inc. Amway operates in more than 50 countries around the world, bringing business opportunities to more than two million people.

"We're excited to forge this partnership with the Magic and the City of Orlando," said Alticor Chairman Steve Van Andel. "The NBA is one of the most popular sports leagues in the world, and this partnership will build pride in our business around the world."

Said Alticor president Doug DeVos: "We are delighted to have the chance to work closely with the Magic and the City of Orlando. We're especially excited to have the chance to align the charitable efforts of our One By One Campaign for Children with some of the great things that the Magic are doing in the community."

Besides Amway, Alticor is also the parent company of North American e-commerce leader Quixtar Inc., business services provider Access Business Group, and a number of other ventures.

Amway will receive exterior and interior building signage, and television, radio, print and Internet promotion.

"We're pleased to generate additional revenue sources, continuing our commitment to operate a self-sustaining arena," said Allen Johnson, City of Orlando Centroplex Director. "With more than 150 events per year, we're confident the Amway Arena will serve as a central venue for our region's sporting, entertainment and cultural events."

This proposed, four-year naming rights agreement would generate an increased net return to the City.

"We're looking forward to many memorable moments ahead in Amway Arena," said Orlando Magic Chief Operating Officer Alex Martins. "Amway represents the quality and excellence we strive for in bringing our product to our fans and stakeholders. We are excited to bring Amway on board. This is a win-win-win situation for the City of Orlando, Amway, and the Orlando Magic."