NEW ORLEANS — The New Orleans Pelicans and Smoothie King have agreed to resume their area naming rights contract, the membership introduced Tuesday.

The sector will “retain its distinctive id because the Smoothie King Heart for the foreseeable future,” the Pelicans stated in a press release.

Neither the membership nor Smoothie King launched particulars on the particular size or worth of the settlement. The preliminary settlement, reached in 2014, ran for 10 years by way of the present NBA season and reportedly had an estimated worth approaching $40 million.

The Pelicans’ lease on the 24-year-old area is because of expire subsequent summer time. However the membership has stated it intends to train an choice to stay within the Smoothie King Heart by way of at the very least the tip of the present decade whereas exploring longer-term plans that might embody proposals for a brand new area or intensive renovations to the present constructing.

“We’re thrilled to increase our relationship with Smoothie King and preserve the long-lasting Smoothie King Heart as the house of the New Orleans Pelicans,” crew proprietor Gayle Benson stated. “Smoothie King’s dedication to wellness and neighborhood aligns completely with our values, and we stay up for persevering with to construct on the success we’ve achieved collectively.”

Smoothie King was based in New Orleans 5 a long time in the past. It moved its headquarters to Dallas after signing the earlier 10-year naming rights deal.

“We’re so excited to proceed to be part of the neighborhood and have a robust presence there by way of our shops and our partnership with the Pelicans,” Smoothie King proprietor Wan Kim stated.