Tele2 Arena Naming Rights Deal Will Run For 10 Years
The naming rights deal at Tele2 Arena, a 30,000-seat stadium currently under construction in Stockholm, will last at least 10 years, SportsBusiness Daily Global has learned. AEG announced the agreement last week, but did not disclose terms. The AEG-operated facility is scheduled to open in July '13. All five of Stockholm's primary sports venues -- Tele2 Arena, Ericsson Globe, Annexet, Soderstadion and Hovet -- are owned by the city and operated by AEG's Stockholm Globe Arenas subsidiary as part of a 15-year agreement that expires in '23, with an option to extend, according to Stockholm Globe Arenas Communication Manager Marie Lindqvist. The naming rights deal is part of the financing of the Tele2 Arena, according to the City of Stockholm's annual report. The $380M building will have a retractable roof, and will be the home to two rival Stockholm soccer teams -- Hammarby IF and Djurgarden. AEG owns 49% of Hammarby. Hammarby's current home, Söderstadion (South Stadium) will be demolished. The century-old Stockholms Olympiastadion Stadion (Stockholm Olympic Stadium), home to Djurgarden since 1936, is not approved for elite soccer after '14 but will be used for other smaller sporting events. Tele2 Arena recently postponed its opening date to July '13, largely due to the bankruptcy of the concrete subcontractor Betongmästarna.. As of 3pm June 12, AEG's website still listed the building name as Stockhokm Arena, with a completion date of 2012. AEG also has an ownership stake in Djurgårdens IF Hockey, who plays in Hovet. The Ericsson Globe is Scandinavia's busiest sports venue, and is annually named in the list of the top 200 arenas worldwide compiled by Pollstar.