"We have been in discussions and we're very close," Devils owner Jeff Vanderbeek told The Star-Ledger of Newark for Thursday's newspapers. Prudential spokesmen told the newspaper and The Associated Press the company was in discussions about buying naming rights for the arena.
The proposed deal would have Prudential pay the Devils about US$5 million a year in return for the arena being called the Prudential Center, Vanderbeek told the newspaper.
The $365 million venue is to open in October. The city of Newark, which is contributing $210 million toward construction, is to get a small portion of the naming rights money, the newspaper said.
The Devils now play at the Continental Airlines Arena at the Meadowlands Sports Complex in East Rutherford. The NHL team shares the building with the New Jersey Nets, whose new owner is moving forward with plans to build an arena for the NBA team in Brooklyn, N.Y.