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NCSU Reaches Agreement with Arena Authority

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RALEIGH — Plans to build a new arena in Raleigh havecleared another hurdle.

The Centennial Authority approved an agreement Monday with N.C. StateUniversity.The deal paves the way for the Wolfpack basketball teams and the CarolinaHurricanes professional hockey team toshare the $132 million arena.

Under the agreement, N.C. State would pay a minimum of $600,000a year in rent.But the university would also get a portion of the revenues and the rightto name the arena, which could yield $5 million or more for N.C. State.

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