New York, NY —

REPORTER: The New Jersey Devils' new home in Newark has a name. Insurance giant Prudential Financial will pay the Devils about $5 million a year for 20 years, and the new ice hockey arena will be called the Prudential Center. Newark Mayor Cory Booker said he's pleased with the arrangement.

BOOKER: I'm thankful to Prudential for stepping forward and adding their might and adding their spirit and adding their dreams for a better Newark together with Jeff's and the Devils.

REPORTER: The mayor, there referring to Devils owner Jeff Vanderbeek. The $370 million arena, which is under construction, is set to open in October.