Best Buy is sponsoring London venue The O2 to bolster its entertainment credentials.

Best Buy UK, which will be the Official Consumer Electronics Retail Sponsor of the entertainment venue, has sealed a five year deal that begins this month.

As part of the deal, it owns the naming rights to the 750 capacity VIP lounge at the O2, recently voted the world’s most popular music venue.

Best Buy customers will have access to special offers and VIP tickets for the O2, promoted under Best Buy’s customer reward programme, My Best Buy.

The US electricals retailer will host events under the banner ‘Best Buy Presents…’, with the first headlined by singer Ellie Goulding next month.

Best Buy UK marketing director Kevin Styles said: “Best Buy has a long-standing heritage and commitment to supporting entertainment. In the UK we demonstrate our focus on entertainment in-store, where our customers can try and buy in our DJ decks area, experience and buy 3DTVs and choose from a wide range of music, movies and games to try in-store.”

He added: “This exciting development will allow us to further reward My Best Buy customers with gig tickets and VIP experiences.”

Best Buy’s highly anticipated first UK store opened on April 30 in Thurrock, Essex. It opened a second in Hedge End, Southampton last month and will open one in Merry Hill later this month and Aintree and Croydon later in the year, followed by Bristol in 2011.