Saudi Arabia pays for naming rights to Atlético Madrid's stadium for 9 years
9 Oct 2024 5:31 PM IST
Madrid: 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, said Wednesday that its Metropolitano stadium will be known as the Riyadh Air Metropolitano henceforth until 2033.
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 euros 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.
The establishment of Riyadh Air was announced by Saudi Crown Prince Mohammed bin Salman in March 2023. It is yet to begin commercial operations.
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