Allianz Signs New Stadium Naming-Rights Deal With English Rugby Club Saracens

English Rugby Union club Saracens' new ground at Barnet Copthall stadium "will be named Allianz Park," according to the PA. A six-year deal worth £8M ($12.4M) has been signed with German financial services provider Allianz with "stadium naming rights part of the agreement." Allianz will also become Saracens' shirt sponsor (PA, 7/24). The DPA reported that France, where Allianz acquired the stadium naming rights for Nice's new stadium, and the U.K. are "important insurance markets." Allianz Head of Global Brand Management Christian Deuringer said, "Our goal is to improve the brand recognition of the Allianz brand. The naming of a sport stadium includes a distinctive emotional component -- for an abstract brand like Allianz, a stadium can quickly become an expressive symbol" (DPA, 7/24).