London Stadium deal: Allianz hot favorite



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London Stadium naming rights Image: Coliseum GSVA

The German financial services company Allianz is emerging as the leading contender to secure the naming rights for the Premier League team West Ham United F.C.’s home venue – the London Stadium in London, England (UK) – and the wider Queen Elizabeth Olympic Park in Stratford, London.

‘BBC SPORT’ stated that the London Legacy Development Corporation (LLDC) has been criticized in the past for not securing a sponsor for the iconic home to the 2012 Olympic Games.

Allianz is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. The company is one of the world’s largest insurers and financial services groups.

The West Ham United Football Club is an English professional football club that plays its home matches in Stratford, East London (UK). The club competes in the Premier League, the top tier of English football. The club plays at the London Stadium, having moved from their former home, the Boleyn Ground in East London, in 2016.

The 80,000-capacity London Stadium is a multipurpose outdoor stadium at the Queen Elizabeth Olympic Park in the Stratford district of London (UK). It is located in the Lower Lea Valley, six miles East of Central London.

The 62,500-capacity Queen Elizabeth Olympic Park is a sporting complex and public park in Stratford, Hackney Wick, Leyton and Bow, in East London (UK). It was purpose-built for the 2012 Summer Olympics and Paralympics, situated adjacent to the Stratford City development. The London Stadium is located within the Queen Elizabeth Olympic Park in East London.

London (UK)-based the London Legacy Development Corporation (LLDC) is an organization established in 2012, replacing the Olympic Park Legacy Company and the planning powers of the Olympic Delivery Authority. It was formed as a Mayoral Development Corporation under the powers of the Localism Act, 2011.

‘BBC SPORT’ further stated that but it is understood negotiations are now at an advanced stage.

While there is no timescale on the talks, it is anticipated they will eventually reach a positive conclusion.

Although the London Stadium itself continues to lose money, the LLDC believes the increasing number of events attracted to it, including Major League Baseball – which will return for another two-game series in June 2024 – and the wider development on the site mean it is attracting visitors to the area in growing numbers and of value.

New York (US)-based Major League Baseball (MLB) is a professional baseball organization. One of the major professional sports leagues in the United States and Canada, the MLB comprises 30 teams, divided equally between the National League (NL) and the American League (AL), with 29 in the United States and 1 in Canada.

While the West Ham, as the tenants, is not involved in the negotiations, they have been kept informed and are not thought to have raised any objections.

The financial services company Allianz are longstanding sports sponsors and already have the naming rights to the prestigious stadiums of the Bundesliga giants FC Bayern Munich home ground -the 75,024-capacity Allianz Arena in Munich, Germany – the Serie A club Juventus F.C. home ground – the 41,507-capacity Allianz Stadium in Turin, Italy – and the rebuilt 45,500-capacity Sydney Football Stadium, commercially known as the Allianz Stadium in Moore Park, Australia.

The West Ham would only profit from a stadium-only deal if it exceeded £4m.
 

Lock Horns

Earlier, ‘The Standard’ stated that the multimillion-pound battle for the naming rights for the London Stadium looks set to be a two-horse race between the Allianz and the ticketing industry leader Stage Front.

Columbia (US)-based the Stage Front has grown to be a prominent leader in the ticketing industry. Its advanced technology and unprecedented support streamlines sellers’ options to manage, price and deliver tickets worldwide. Stage Front continues to develop new ways to empower its clients and elevate them to the next level. Integrating with resale market giants, various point of sale (POS) systems and third-party service providers they are well-versed in all aspects of the industry.

The London Legacy Development Corporation (LLDC) has been involved in lengthy negotiations over a naming rights sponsor for West Ham’s home.

A host of companies are believed to have voiced an interest but the front-runners have now emerged as Allianz, the German financial services provider, and the American-based ticketing firm Stage Front.

‘The Standard’ further stated that the Stage Front, meanwhile, has the naming rights for the LaLiga club RCD Espanyol de Barcelona digs – the 40,000-capacity Stage Front Stadium in Cornellà de Llobregat, Spain.

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