The Nissan Motor Company will keep its naming rights for a stadium in Yokohama, near Tokyo (Japan), for a total of 650 million yen ($4.2 million) over five years from next March, the City said recently.
‘english.kyodonews.net’ stated that the two sides reached an agreement to renew the naming rights contract for what is currently known as the Nissan Stadium.
The Nissan Motor Company Limited is a Japanese multinational automobile manufacturer headquartered in Yokohama, Kanagawa, Japan. The company sells its vehicles under the Nissan and Infiniti brands.
The 72,327-capacity International Stadium Yokohama, currently known as the Nissan Stadium for sponsorship reasons, is a multipurpose stadium in Yokohama, Kanagawa Prefecture, Japan, which opened in March 1998.
‘english.kyodonews.net’ further stated that under the new contract Nissan will pay 50 million yen in the first year and around 100 million to 200 million yen annually from the second year.
The total amount is higher than the current 600 million yen contract for the five years through February.
The negotiation between the company and the City “ended with a very good result”, Yokohama Mayor Takeharu Yamanaka said, noting that the City took Nissan’s situation and the value of naming rights into account.
“The (stadium) name reflects our deep attachment and pride,” a Nissan official said adding that the company opted for a longer-term plan to pass down the name.
The stadium, named after Nissan since 2005, is the home of Yokohama F Marinos, a J-League first-division football club that has won the league championship five times and has had many big-name Japanese players.
In October, the automaker suggested selling a portion of its roughly 75 percent stake in the team’s operator Yokohama Marinos Limited as it undergoes a major restructuring while remaining the largest stakeholder.
Nissan posted a net loss of 670.90 billion yen for fiscal 2024 hit by lackluster overseas sales.
Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.
Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at coliseum-online.com/alliance and make use of the 365Coliseum Business.