The rights were up for renewal, but Forsyth Barr agreed to pay an undisclosed amount for another 10 years.
Forsyth Barr managing director Neil Paviour-Smith said it was a multimillion-dollar deal to keep the name until 2031, and it was worth more than it had paid for the past 10 years, believed to be $5million.
He said the quality of the events at the stadium had been better than expected and Covid-19 had not come into the equation during negotiations over the rights.
Dunedin Venues Management Ltd (DVML) chief executive Terry Davies said it had been an "incredibly disruptive" year for the business.
"We had to reduce our staffing levels (from 32 to 16) knowing that we were fundamentally out of business.
"When you’re going to [Alert] Level 2 and 3, you haven’t got any income, you’ve got no events coming so you’re out of business."
Mr Davies ran through what DVML lost.
"We would have lost 50 business events at town hall, we would have probably lost about four concerts, let alone the test match we lost, T20 cricket on University Oval."
Going through "all that pain" early meant the business was well poised and feeling bullish over the next six to eight months, Mr Davies said.
International promoters were still interested in coming to Dunedin, he said.
Despite the cancellations and decreased revenue, Mr Davies said DVML’s financial obligations to its owner, the Dunedin City Council, would be the same as the previous year.
It would be able to meet those obligations because of the belt-tightening it carried out when Covid-19 disruptions took hold.
