Real Madrid are reportedly struggling to find a naming rights partner for their iconic Bernabeu stadium. The apparent stumbling block for prospective brands is the risk that people will continue to refer to the stadium as the Bernabeu rather than the partnering brand.
The Bernabeu is set to undergo a $617.2m revamp in 2019, which Real Madrid believe will generate an extra $176.4m in annual revenue.
Arsenal’s Emirates Stadium and Bayern’s Allianz Arena were built and opened with naming rights partners in place with both brands benefitting from the partnerships. However, the Bernabeu is only undergoing a revamp and the stadium’s historic status could overshadow a new partner.
Club president, Florentino Perez, supported this statement saying: “The situation would be different if the club was building a new ground, rather than renaming and redeveloping the existing arena.”
In January it looked as though Spanish oil and gas multinational, Cepsa, were close to agreeing a €400m naming rights deal – only for the deal to fall through.
For more information get in touch here.