June 2 – Italian league and Cup double winners Juventus who tomorrow face Real Madrid in the Champions League final in Cardiff, have confirmed that their Juventus Stadium will be renamed Allianz Stadium from July 1.
Juve have already cashed in on their stadium naming rights having already sold them to sports marketing agency Sportfive (owned by Lagardère Sports) for €75 million in 2011 when the new stadium was completed.
Since then Sportfive has struggled to find a buyer and the venue has been referred to as the Juventus Stadium. Italian reports are that Sportfive are taking a big loss on the deal with Alliance reportedly only paying €3 million a year for the next six seasons through to 2023.
The initial deal with Juve by Sportfive was for 12 years. The Allianz deal will now run to the end of that term and if the figures are correct, leave Sportfive with a loss of €57 million on the 41,000 capacity stadium naming rights gamble.
For their part Juventus are playing up the renaming of their home. Giorgio Ricci, co-chief revenue officer and head of global partnerships and corporate revenues at Juventus, said
“The arrival of a global giant in the insurance sector such as Allianz is further testament to how Juventus has established itself as a first-class international institution, whilst enriching a stadium that has played a significant role, since its inauguration in 2011, to creating history with six legendary Scudetto titles celebrated within its walls.
“Our ambition and objective is to collaborate with Allianz for the benefit of our supporters, just as with the other partners who have helped transform the stadium into a theatre, ensuring that each match is a show of entertainment and a welcoming place for families.”
Allianz hold naming rights to a number of major venues worldwide including Bayern Munich’s Allianz Arena, Sydney’s Allianz Stadium, Allianz Park in London, Nice’s Allianz Riviera, Allianz Parque in Sao Paulo and Allianz Stadion in Vienna.
Allianz will have signage on the north-east and south-east corners of the ground, as well as the main entrance. The Allianz Stadium logo will be visible inside the stadium, on the north, south and east sides of the ground for television broadcasts, as well as on a number of other entry and access points to the stands.
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