The new coliseum at the Oklahoma State Fairgrounds will have a familiar name: OG&E

The OKC Fairgrounds coliseum will be sporting a familiar name when it opens in 2025.

Once it's complete, the venue will be known as OG&E Coliseum. The Oklahoma State Fair made the announcement to commemorate lifting the final truss into place.

Oklahoma Gas and Electric Co. (OG&E), Oklahoma's largest and oldest investor-owned electric utility, became the lead donor partner for the project after a contribution by the OGE Energy Corp. Foundation. The amount of the donation is confidential, according to terms of the naming rights agreement.

In total, the construction project costs about $126 million. Most of the funding, $82 million, comes from MAPS 4. Another $25 million is earmarked from the city's hotel and motel tax, with another $9 million from the MAPS 3 series of projects. City officials allocated $5 million from American Rescue Plan Act funding.

The OGE Energy Corp. Foundation saw an influx of cash in 2022 when OG&E sold its interest in Enable Midstream Partners. The company will retain naming rights for 10 years.

"It has been known from the very beginning that the coliseum portion of the MAPS 4 budget was not sufficient to cover the entire cost of the $126 million project," said Ron Norick, chairman of the Oklahoma State Fair board of directors. "Multiple funding sources needed to come together to bridge the gap. We are extremely thankful that the OGE Energy Corp. Foundation stepped up with their generous donation. Without them, we would not have been able to build the coliseum we are building today."

The OG&E Coliseum will replace Jim Norick Arena, known informally by generations of high school basketball players and fans as "The Big House." Oklahoma City leaders broke ground on the new coliseum in February 2023.

The coliseum is expected to seat up to 7,500 people for events such as concerts, bull riding and basketball games.

More: What MAPS projects will start in 2024? Everything to know about ongoing OKC projects

Since opening in 1964, Jim Norick Arena has primarily been the home to high school basketball and wrestling championships. In addition to state tournaments, the historic venue has also hosted a host of other events, such as the Oklahoma State Fair, concerts, the Oklahoma Youth Expo, horse shows and more.

The Jim Norick Arena will continue to host events until the new coliseum opens.

"We are delighted to serve as lead donor for the new coliseum at the OKC Fairgrounds," said SeanTrauschke, chairman, president and CEO for OGE Energy Corp. and OG&E. "Joining with the City and Oklahoma State Fair to enhance and finish the MAPS 4 coliseum is an opportunity that makes sense for us and we can’t wait to experience the memory-making sporting events, horse shows, and concerts headed our way."

This article originally appeared on Oklahoman: New OKC Fairgrounds coliseum will be named OG&E Coliseum