Atlético Madrid has reached a nine-year agreement with Riyadh Air to become the title sponsor of the club’s stadium.
Following the deal, the stadium will be known as Riyadh Air Metropolitano. Reports suggest that the agreement could be worth up to €300m.
In an announcement, the La Liga club has called the Saudi Arabian company the most important sponsor in the club’s history.
This partnership builds on an existing agreement between the club and the airline. Last year, Riyadh Air was named Atlético Madrid’s main sponsor, featuring its logo on the front of the men’s first team kits in all domestic and international matches.
Miguel Ángel Gil, CEO of Atlético Madrid, said: “Just over a year after signing the sponsorship agreement with Riyadh Air, we are all proud and very happy to announce the extension of the partnership signed then with the agreement whereby our stadium will be named Riyadh Air Metropolitano.
“Thanks to Tony Douglas and his team for trusting Atlético de Madrid as a strategic partner for the launch and development of their ambitious global project.”
The first match to be played at the ground under its new name will be a game against Leganés on 20 October. However, the final installation of the new name of the stadium on the main, northeast and southeast stands is set to be completed in the next few weeks.
Tony Douglas, CEO of Riyadh Air, commented: “It’s an honour to become the naming partner for the Riyadh Air Metropolitano and extend our partnership with Atlético de Madrid until 2033. Both organisations are driven to succeed at the highest level and having our name on such an iconic stadium will elevate the awareness of Riyadh Air across the sporting world and beyond.”
Saudi Arabia’s influence on football continues to expand, with a special focus on the Spanish market, as of late. Earlier this week, La Liga partnered with Riyadh Season, a sports event entity backed by the Saudi General Entertainment Authority.
