Atletico Madrid has sold the naming rights to its stadium, with Saudi Arabian airline Riyadh Air securing the title sponsorship. The club’s home ground will now be called the Riyadh Air Metropolitano until 2033. The deal is reported to be worth in the region of £210-£250M and will see Riyadh Air increase their involvement in Atletico, as the airline has been the club’s shirt sponsor for over a year. The move brings a third stadium sponsor associated with the club, following previous deals with Civitas and Wanda.
Riyadh Air, owned by Saudi Arabia’s Public Investment Fund (PIF), is part of a broader investment strategy that includes ownership of Premier League club Newcastle United and the organization of the LIV Golf tour. PIF is chaired by Saudi Crown Prince Mohammed bin Salman.
Atletico Madrid CEO Miguel Ángel Gil expressed enthusiasm about the expanded partnership, stating, “A little more than a year after signing our sponsorship agreement with Riyadh Air, we are proud to announce the extension of our alliance, with our stadium now named the Riyadh Air Metropolitano. We thank [Riyadh Air CEO] Tony Douglas and his team for choosing Atletico de Madrid as a strategic partner in their ambitious global project.”