The Hawks and State Farm have reached an agreement on new Philips Arena naming rights, according to a report by Channel 2 Action News.
The deal is reportedly for 20 years. That term was the same that Philips held with the franchise that is set expire next year.
An official announcement is expected later today.
The arena has undergone a $192.5 million renovation over two years. The work is scheduled to be completed in October.
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