The downtown Hartford arena known for years as the XL Center has officially entered a new chapter. At a press event earlier this week, officials from PeoplesBank, Oak View Group and the Capital Region Development Authority joined Gov.

The Hartford Civic Center arena marketed its naming rights with a value of $2 million a year. It will no longer be the XL Center

Hartford’s downtown arena will now go by a new name: PeoplesBank Arena. On Monday, the State of Connecticut announced the Holyoke, Massachusetts-based company purchased the naming rights to the venue, which had been known as the XL Center since 2007. CT Insider reported the deal is worth $20 million over 10 years.