CareFirst signs naming rights agreement for D.C.‘s Entertainment & Sports Arena

Washington D.C.‘s Entertainment & Sports Arena on the city’s southeast side is getting a new name — CareFirst Arena — after Events DC signed a 10-year deal with health insurance provider CareFirst BlueCross BlueShield for the venue’s naming rights.

The deal marks the arena’s first naming-rights partner. Events DC announced in January 2023 that it had partnered with Oak View Group to help facilitate the process.

Events DC President Angie Gates said the two-year process to secure a deal was focused beyond revenue and instead on finding a community partner. “This journey was about putting the people of D.C. first,” she said. “Conversations went beyond a name on the building. It gravitated to the touchpoints of the community.”

Financial terms of the deal were not disclosed, but the agreement includes a $2M investment to fund local programming in D.C.‘s St. Elizabeth’s neighborhood. That programming will focus on causes such as workforce development, maternal health, food insecurity and other issues impacting the community’s quality of life.

The deal was negotiated by Gates, OVG Director of Partnerships Lewis Schreck and CareFirst President & CEO Brian Pieninck.

The 4,200-seat venue, built in 2018, has been the home of the Washington Mystics and NBA G League Capital City Go-Go since opening. The venue hosts other entertainment events such as AEW wrestling, the Coastal Athletic Association basketball championships and concerts. The campus also houses the practice center for the Wizards.

CareFirst’s decision to become a naming-rights partner followed a months-long saga between the Mystics' parent company, Monumental Sports & Entertainment, and the District to negotiate a lease to keep the Wizards and Capitals at Capital One Arena in downtown D.C.

Monumental had expressed interest in building an arena outside of downtown and moving the Mystics to Capital One Arena, leaving the Go-Go as the ESA’s primary tenant.

Gates said that potential uncertainty did impact the process, but CareFirst “was just as committed” to the partnership as other stakeholders.

As part of Monumental’s agreement with the District to redevelop Capital One Arena, the Mystics will remain at CareFirst Arena, with the ability to move 12 games to the larger Capital One Arena. CareFirst Arena is the smallest WNBA venue.

Gates indicated she believes security of the agreement, mixed with the rising interest in the WNBA, provided a great formula for CareFirst to sign the partnership.