Former Klipsch concert venue to be renamed for mortgage firm

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The outdoor music venue formally known as Klipsch Music Center now has a new naming-rights sponsor: Ruoff Home Mortgage.

Live Nation, owner of the 24,000-capacity amphitheater in Noblesville, announced Wednesday morning that the venue would be renamed Ruoff Home Mortgage Music Center as part of a multiyear deal. Exact terms of the sponsorship were not immediately available.

IBJ revealed earlier this month that audio gear manufacturer Klipsch Group inc.was no longer the sponsor of the venue. Its five-year sponsorship deal had expired in October 2016, but it was allowing Live Nation to continue using the name.

Ruoff Home Mortgage is based in Fort Wayne. Founded in 1984, Ruoff is a residential mortgage company with more than 30 branches in Indiana, Ohio, Michigan and Florida.

“Today’s announcement strategically aligns with our company's brand, in our own backyard. We can support our overall growth strategy across the country by leveraging the reach of a global partner like Live Nation,” said Mark Music, CEO of Ruoff Home Mortgage, in a prepared statement. “We are excited to be a part of Indiana’s home for great music.”

The amphitheater opened in 1989 as Deer Creek Music Center and became the Verizon Wireless Center in 2001 under a 10-year sponsorship deal. After the Verizon agreement expired in 2011, Klipsch signed a five-year agreement.

The concert venue seats 6,000 in its pavilion area and has room for about 18,000 in the lawn area. Live Nation brought in 35 concerts for the 2016 season, and 34 concerts were on this year's schedule.

This story will be updated.

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