The HFC Bank Stadium in Suva, Fiji will retain its name for another 10 years after the Fiji Sports Council and the Home Finance Company (HFC) Bank of Fiji agreed a naming rights extension.
The Fiji Times said the extension sees HFC Bank sponsor the venue for $700,000 per annum for the next 10 years, subject to a review period after five years.
The naming rights was first acquired by the bank in 2022, came into effect on July 1 that year and was in their possession for three years.
Present at the signing of the renewal were HFC Bank Fiji’s chief executive Rakesh Ram and Fiji Sports Council’s CEO Gilbert Vakalalabure.
The Fiji Sports Council is an organization that is the custodian of all Fiji Government-owned sporting facilities around the country.
The Fiji Sports Council is tasked to manage, maintain and upkeep all facilities under its area of responsibilities.
The 4,300-capacity HFC Bank Stadium is a multipurpose stadium in Suva, Fiji. The stadium is used primarily for rugby league, rugby union and football matches, and features a track as well as a pitch suitable for worldwide competition.
Ram said the extension of the naming rights deal is a validation of the bank’s commitment towards elevating Fiji’s sporting community.
He said, “We all know how passionate Fijians are in sports and as a local bank, it is our responsibility to ensure that it is maintained and the Fijian people continue to enjoy sports at the HFC Bank Stadium.”
He added the 10-year extension was a show of the bank’s trust in the Fiji Sports Council and the confidence it has in Fijian sporting pursuits at all levels.
Vakalalabure acknowledged the support extended by the bank as commendable and one he said other sporting organisations would regard highly.
He said, “I think that what the HFC Bank has done is something that all the sports organisations around the country should be happy of.
“It boosts the idea of trying to move sports professionally and also nationally and also trying to drive sports ahead.”
The Fiji Times further stated that the extension has come at an opportune time for the Fiji Sports Council, which had been the subject of media and public scrutiny recently due to double bookings of the national stadium and unfavourable ground conditions for international matches.
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