Detroit Red Wings new home to be Little Caesars Arena

The new home of the Detroit Red Wings will be Little Caesars Arena.

The name was announced Thursday by Little Caesars and Olympia Entertainment. They say a 20-year naming rights agreement averages more than $6.25 million per year. Mike Ilitch and his family own the Red Wings and the pizza chain as well as the Detroit Tigers.

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With the deal, LittleCaesarsArena branding will be on the roof of the 20,000-seat arena, on the exterior, at entrances and at centre ice.

The arena has been known as the "Detroit Events Center" during construction and will host other events. The Wings currently play at Joe Louis Arena, which opened in 1979. The new arena is part of a broader entertainment district being built north of downtown.