ALLIANZ, the world’s largest property and casualty insurer, has made its second major move into the stadium naming rights market by agreeing a 10-year deal for the Sydney Football Stadium in Australia.
The German insurance giant will put its name to the 45,500-seat venue in a deal that the Sydney Cricket & Sports Ground Trust says will be worth “tens of millions of dollars”.
Frontloaded values the deal at around AUS$2.5m per year.
In comparison, the Allianz Arena deal with Bayern Munich, signed in 2005, is known to be worth around €90m over 15 years.
Frontloaded has learnt that the two main negotiators on the Allianz Stadium, Sydney were Dominic Brandon, group manager Segment Marketing, Allianz Australia and Jason Hill, general manager – Commercial, Sydney Cricket & Sports Ground Trust.
Allianz managing director Terry Towell said the agreement continues Allianz’s global association with world class sports sponsorships, including sports stadiums.
For the rights holder, the importance of the deal is in securing funding for the development of the venue.
SCG Trust chief executive Jamie Barkley said the partnership will assist the Trust in implementing further venue upgrades which will enhance fans’ experience at rugby league, rugby union and football matches, plus at live concerts and entertainment spectaculars.
The stadium boasts a significant year-round schedule of events. The Wallabies return this year to join the NSW Waratahs, Sydney Roosters, Wests Tigers and Sydney FC – who all call Allianz Stadium home. National rugby league finals and other special events are also played at the venue.
By Matthew Glendinning
Follow Matthew on Twitter: @mattglen