Manchester’s Factory venue sells naming rights for £35m

The new £210m Factory International venue in Manchester has been renamed Aviva Studios in a naming rights deal worth £35m.

The insurance company Aviva has secured the rights, with the new name also paying homage to the famous Granada Studios which previously stood on the city centre site.

The venue's much heralded original name was a reference to the Manchester record label Factory, home to bands such as New Order, Happy Mondays and A Certain Ratio.

The Factory brand will not be completely lost, as the venue will be still be home to arts content providers Factory International – producers of the Manchester International Festival.

Manchester City Council – a major investor in the venue – will recieve the majority of the £35m, having approved capital budget increases on the understanding that some of this could be recouped through such deals.

Council Leader Bev Craig said: “Manchester people are very pragmatic. They know that in this modern world to pay for things you need money to be able to do that."

Some of the money from the Aviva deal will help fund plans for £10 tickets and skills training programmes at the futuristic OMA-designed venue.