The seven figure deal was to last a minimum of three years. In January 2004 the arena was renamed as the Metro Radio Arena after a new sponsorship deal was signed with the independent local station Metro Radio. In 2000 the Ogden Corporation sold the arena to SMG for $240m. In 1997 the arena was renamed the Telewest Arena after a sponsorship deal with the telecommunications and cable-television company Telewest. Chandler died in 1996 while Stanger died in 1999.
The Ogden Corporation assumed full ownership of the arena after Chandler and Stanger sold their stakes in Park Arena Limited. The venue was officially opened by Torville and Dean in January 1998. The arena cost £10.6m to build (partly financed by a £2.5 million grant from Tyne & Wear Development Corporation), and opened as the Newcastle Arena on Saturday 18 November 1995 with a basketball league game between the resident team the Newcastle Comets, hosting the Doncaster Panthers. Acts that did visit the region often had to make use of the 3,200 seat Whitley Bay Ice Rink. According to Ogden, the arena clearly filled a market opportunity for touring acts who had otherwise bypassed the area, with the next nearest local venue being the 2,000 seat Newcastle City Hall, and the only other medium-sized venues being as far away as Sheffield to the south or Glasgow to the north. The NYSE listed Ogden Corporation was awarded a 20-year contract in February 1995 to design the arena, and once completed, to manage the facility including booking and promotion. Two well known local musicians conceived and helped build the arena, Chas Chandler and his business partner Nigel Stanger, together with invaluable help from local Price Waterhouse Corporate Finance partner John Wall.
Having also had various professional basketball and ice hockey teams as tenants for much of its history, since 2009 it has had no ice hockey team after the departure of the Newcastle Vipers to the Whitley Bay Ice Rink, and no basketball team since the departure of the Newcastle Eagles to Northumbria University's Sport Central arena in 2010. Owned and operated by ASM Global and sponsored by Utilita Energy, it hosts music, entertainment, sports and business events. The Utilita Arena Newcastle (formerly the Newcastle Arena, Telewest Arena and Metro Radio Arena) is an indoor arena in the city of Newcastle upon Tyne, North East England. The 40,000 square feet of exhibition and conference space is the largest under one roof in the North East and has hosted many prestigious events.The main entrance under old signage (2016) It has already played host to millions of visitors to concerts, exhibitions, conferences and Premier League Basketball. Since its opening, the Utilita Arena quickly established itself as a superb venue and major North East landmark, alongside the Tyne Bridge, Angel of the North and Hadrian's Wall. It opened in November 1995 with basketball, and the first concert, David Bowie, was on Thursday 7th December 1995. The 11,000+ seater purpose built Utilita Arena Newcastle was the brainchild of former Animals stars, the late Chas Chandler and his partner in Park Arena, Nigel Stanger. As well as live music - head to Utilita to experience an eclectic mix of events and entertainment all year round with returning acts and performances including Disney On Ice and Paw Patrol Live for the little ones and The Big North Tattoo Show 2020 and WWE Live for the thrill-seekers! Please check each event listing for rescheduled dates and further information. Local lad Sam Fender will perform to a sell-out crowd while many of the major tours will follow suit with Stormzy, Pussycat Dolls and McFly all taking to the stage at Utilita for what will be electrifying concerts. However, due to Covid-19, many of these events have been rescheduled. The arena celebrates their 25th anniversary this year and has a stellar line-up of acts and events taking place throughout 2020. Utilita Arena Newcastle (formerly Metro Radio Arena) sits overlooking the River Tyne and with a seating capacity of over 11,000, it is one of the largest concert and exhibition venues in the North East of England.