Atlético de Madrid will rename their stadium “Riyadh Air Metropolitano” in a 9-year deal with a Saudi airline
Stadium renamed
The new name will officially be revealed on October 20 during an upcoming match, according to a joint statement from Riyadh Air and Atlético de Madrid.
The stadium will keep this name until 2033, replacing its previous sponsor, Civitas.
Although the financial details were not shared, Spanish media estimate the deal to be worth between $274 million (250 million euros) and $329 million.
Riyadh Air became Atlético’s sponsor in August 2023, with its logo appearing on the front of the men’s first team jerseys during all domestic and international matches that season.
Key Background
Riyadh Air is owned by Saudi Arabia’s Public Investment Fund (PIF) and plans to start flying by mid-2025.
Crown Prince Mohammad bin Salman founded Riyadh Air in March 2023 to take advantage of the country’s central location between Asia, Africa, and Europe, aiming to make it a key hub for trade, travel, and tourism.
The airline aims to serve more than 100 destinations worldwide by 2030.
Other Deals
In August, Riyadh Air partnered with Concacaf, the organization for football in North, Central America, and the Caribbean, to grow its presence in global sports.
Through this partnership, Riyadh Air will sponsor national and club football competitions across the region.
Published: 14 October 2024
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