The newly named Emirates Arena in Scotland will open its doors on Friday following the announcement of a 10-year-long £5m deal between the airline and Glasgow City Council.

The arena cost £113m to build and includes the Sir Chris Hoy Velodrome and the Commonwealth Indoor Sports Stadium with 6,500 spectator seats. It will be a national training centre for athletics, basketball, netball, track cycling and volleyball. Open for community use, local people are set to be the first to use the facilities after the centre's opening on 5 October 2012.

The arena will play host to eight Scottish, European and world level sporting events over the coming months.

Built on a 10.5 hectare site in the east end of Glasgow, it will also include three full-size sports halls, one of the largest Glasgow Club health and fitness centres, a luxury spa, an outdoor 1km closed cycle circuit and four outdoor five-a-side football pitches.

Glasgow was recently ranked at number nine in SportBusiness Ultimate Sports City 2012 Awards and local councillors hope the Emirates partnership will help build on the city’s international reputation and bring additional benefits.

Councillor Gordon Matheson, leader of Glasgow City Council, said: "The Emirates Arena is a truly world-class venue that will host a genuinely world-class sporting events programme. This partnership will bring that venue and global brand together and it will be the people of Glasgow who will reap the benefits. Over the next 10 years this multi-million pound deal will leave a lasting legacy.

"We are one of the world's top 10 sporting cities and the Emirates Arena will play a huge part in ensuring we retain and build on that position in the coming years.”

  Richard Jewsbury of Emirates’ Commercial Operations Europe, said: “As a truly global airline we are committed to connecting people and cultures and this new sponsorship portfolio truly embodies this spirit. This multi-million pound agreement will not only help to inject significant funds into the Glasgow economy, but will also highlight Glasgow’s place on the international sporting stage."

"The Emirates Arena is a truly world-class venue that will host a genuinely world-class sporting events programme. This partnership will bring that venue and global brand together and it will be the people of Glasgow who will reap the benefits. Over the next 10 years this multi-million pound deal will leave a lasting legacy.