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So long, Wells Fargo Center.
The South Philly arena, home to the Flyers, 76ers and Wings, plus concerts and special events, is getting a new name.
Starting September 1, the Wells Fargo Center will be known as the Xfinity Mobile Arena.
This will be the first time the space isn’t named after a bank. It’s been the Wells Fargo Center since 2010.
The new name will run through 2031, when a new arena will be built at the sports complex.
Even if your company isn’t going to sponsor an arena any time soon, the new name offers a few lessons in branding – starting with being patient about the payoff.
Reactions to the new name have been predictably mixed.
Humans are built to resist change, even when that change has next to no tangible impact on their lives.
So why would any brand take the risk?
For starters, these kinds of deals …