EAST RUTHERFORD, NJ-Continental Airlines Arena will soon cease to exist. The building will still be there, but it will be known as the Izod Center. As reported by GlobeSt.com, the airline opted out of its sponsorship recently in the wake of the loss of the Devils franchise to the new Prudential Center in Newark and the pending departure of the Nets to a new arena in Brooklyn.

New Jersey Sports and Exposition Authority commissioners voted yesterday to sell the naming rights to clothing manufacturer Izod, which won out fellow apparel purveyors Southpole and Rocawear. Under the terms of the agreement, Izod will pay $1.4 million a year for the next five years. Izod will also kick in marketing programs worth $600,000 and employee uniforms worth $100,000.

“The sponsor is going to brighten up the arena and give it a new look,” says committee member James Minish, in a statement. That new look, which will debut later this month with the Nets' home opener, will include a new color scheme and changeable images throughout the building.