The London Stadium’s long-running search for a naming sponsor goes on after leading candidate Allianz opted to instead rename Twickenham Stadium, believing it to be a better brand fit.
As exclusively reported by SportBusiness, the German insurance brand held advanced discussions with the London Legacy Development Corporation (LLDC), the commercial rights owner for the Queen Elizabeth Olympic Park in East London, which also serves as the home of Premier League side West Ham United. Well-placed sources revealed that the company was very close to agreeing an expansive sponsorship deal covering the stadium at the turn of the year.
The LLDC pulled out all the stops to get the agreement over the line and is understood to have called on London Mayor Sadiq Khan and World Athletics president Sebastian Coe to convince Allianz of the merits of a deal. The agreement would have encompassed naming rights to the multi-event London Stadium, as well as the wider 560-acre park that hosted the 2012 Olympic Games.
However, the Rugby Football Union (RFU) last night announced that it had entered into an agreement with the insurance brand that will see its Twickenham home renamed the ‘Allianz Stadium’ from September this year. Sources spoken to by SportBusiness said the insurance company believed the London Stadium represented a compelling opportunity, but it ultimately decided rugby union made for a better brand fit.
As reported by SportBusiness, the insurance firm was understood to be competing with Maryland-based ticketing firm Stage Front for the rights to brand the London Stadium, but the latter firm was not interested in sponsoring the wider Olympic Park. A third brand is also understood to have expressed an interest in sponsoring the park but was thought the least likely to conclude a deal at the time.
Stage Front’s other sponsorship deals in sport included a stadium-naming pact with Spanish LaLiga club RCD Espanyol but the deal has since been terminated with the club alleging non-payment and breach of contract. The ticketing company denies the claims.
Contacted by SportBusiness, a spokesperson for LLDC said: “We do not comment on who we are holding commercial discussions with. However, interest in the Stadium from promoters and commercial partners remains strong and we are actively in the market with the naming rights proposition and having active discussions. This summer we have hosted sold out athletics, Major League Baseball and concerts and signed a number of commercial deals including with Stanstead Airport and Coca-Cola.”
Allianz has served as the Official Insurance, Investment and Asset Management Partner of England Rugby, for the past four years and has supported both the men’s and women’s national rugby union teams in this role.
The insurance brand also previously served as the stadium-naming and kit sponsor for Premiership Rugby side Saracens but decided to end its association with the club in 2020 at a time when the team was preparing for life in the second-tier Championship having been relegated over salary cap breaches.
The deal with Twickenham, which SportBusiness understands was brokered by the CAA Sports agency, will inject much-needed investment into the RFU at a time when it is seeking to plug significant gaps in its finances.
In February, the BBC reported it had seen a document that suggested the RFU was considering selling Twickenham and buying a 50-per-cent stake in Wembley before ultimately deciding to focus on redeveloping its home of the last 117 years.
The decision to completely remove the Twickenham name from the stadium has met with a mixed response from fans although there is an appreciation that the sport desperately needs the funds.
In a statement to announce the deal, RFU chief executive, Bill Sweeney, said: “We’re really pleased to be expanding our partnership with Allianz, enabling further investment into the community and professional game. This is an opportunity to celebrate our stadium’s proud legacy while developing it for the future. This partnership will support us in moving the game in a direction which serves all rugby, from minis to the elites, from club coaches to our national coaches and everything in between.
“Over the coming years the RFU and Allianz will work together to enhance visitor experiences and provide fans and local community with the best possible match day and event experiences.”
As previously reported, LLDC is entitled to keep the first £4m of any naming rights sponsorship deal for the London Stadium, sharing anything above this figure 50:50 with West Ham United. The club’s share is capped at the team’s annual stadium usage fee, unless any increase in the value of the sponsorship deal is clearly attributable to the club’s on-field performance.
In 2022, LLDC chief executive Lyn Garner indicated the organisation would be happy for West Ham to pursue a naming rights deal for the venue if the club were prepared to buy out the rights for £4m a year, but nothing has so far come of the offer.