INDIANAPOLIS (AP): State Fair officials are working with potential sponsors for buying the naming rights to the newly renovated Fairgrounds Coliseum.

The 75-year-old arena was known as Pepsi Coliseum from 1991 until the soft-drink company's contract ended in 2012.

Fairgrounds spokesman Andy Klotz tells the Indianapolis Business Journal that a new naming rights deal should be reached soon.

Pepsi was paying $170,000 a year under its old contract. Klotz says the new deal is expected to be more lucrative because of the $63 million renovation that was opened to the public on Thursday.

The coliseum will be the home for IUPUI's basketball teams and the new Indy Fuel minor league hockey team.