LaLiga side Atletico Madrid are set to name real estate company Civitas Pacensis as the new naming rights sponsor for the club’s stadium.
The Spanish football giant have been looking for a new sponsor after its previous stadium naming rights deal with Chinese conglomerate the Wanda Group, signed in 2017 and reportedly worth €10 million per year, expired at the end of the season.
2Playbook in June reported Atletico had held talks with several companies to replace Wanda, including financial services firm Allianz. However, despite ‘considerable progress’, a deal was unable to be reached.
Badajoz-based Civitas Pacensis looks to be in pole position and will reportedly pay a higher amount than the €10 million per year Wanda parted with. The deal will see Atletico’s home called the Estadio Civitas Metropolitano. Mas Atletico adds that the stadium name has been registered since 1st July.
The Spanish outlet also reports that Civitas Pacensis is in discussions to become a sustainability partner of Atletico. The company is purportedly involved in the development of the club’s proposed sports city. The project is set to be approved this month, with Civitas Pacensis’ agreements with Atletico expected to be announced alongside this.