Allianz Buys Stadium Naming Rights To Ligue 1 Club Nice's New Facility

Ligue 1 club Nice has reached a nine-year sponsorship agreement with German insurance company Allianz for the naming rights to their future stadium, according to L'EQUIPE. Allianz will pay €1.8M ($2.2M) annually to have its name "on the roof and front" of the building. The stadium, which is currently under construction and is expected to be finished by June '13, will be named the Allianz Riviera. Allianz is "used to this sort of partnership." The insurer already has stadium naming deals in Germany with Bayern Munich (Allianz Arena) and in Australia with Australian Rugby League team New South Wales Waratahs (Allianz Stadium). The new 35,000-seat facility in Nice cost €243.5M ($294.2M) and was selected as one of the host sites for Euro 2016 (L'EQUIPE.fr, 7/23).