Saudi Arabia has consolidated its branding push with Atlético Madrid by paying for naming rights to the Spanish club’s stadium for the next nine years.
Atlético, which has been sponsored by Saudi state-owned Riyadh Air since last season, confirmed on Wednesday that its Metropolitano stadium will be known as the Riyadh Air Metropolitano henceforth until 2033.
It is the third naming rights deal for the Metropolitano, which was first called the Wanda Metropolitano after a deal with the Chinese real estate group when it opened in 2017. In 2022, the venue became the Civitas Metropolitano after an agreement reached with the Spanish real estate developer. The stadium was built to replace the outdated Vicente Calderón.
Atlético did not say how much it was receiving for the new agreement “which makes the Saudi Arabian company the most important sponsor in the club’s history.”
The deal for shirt sponsorship from 2023-27 was already worth a reported €40 million ($44 million) a season to the club.
“The final installation of the new name of the stadium on the main, northeast and southeast facades will take place in the next few weeks,” Atlético said.
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