© Reuters.
LONDON – West Ham United are close to securing a major sponsorship deal for the naming rights of their stadium, potentially renaming the London Stadium. The club, which moved from Upton Park eight years ago, are in advanced talks with insurance giant Allianz (ETR and entertainment company Stage Front for a deal worth around £20m.
The move comes after previous sponsorship talks with Vodafone (NASDAQ 🙂 failed. If successful, the new partnership would provide substantial financial relief for West Ham by contributing to the £2.5m annual rent they pay to London Legacy Development Corporation (LLDC). According to SportBusiness, Allianz is particularly interested in increasing its presence in the Premier League after a failed attempt to secure naming rights with Chelsea, demonstrating its commitment to expanding its brand visibility within the english football
Allianz is already known in the sports world thanks to its partnerships with top football clubs such as Bayern Munich and Juventus. The potential deal with West Ham would see LLDC receive £4m from the deal, with additional profits shared, offering a lucrative opportunity for both the club and the corporation. West Ham’s partnership with E20 Stadium LLP, which operates alongside the club, ensures that any financial benefits from such deals will support its obligations and efforts at its Olympic home at the London Stadium.
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