Manchester City sells stadium naming rights to Etihad Airways

Manchester City sells stadium naming rights to Etihad Airways
The new deal surpasses the 112 million euros paid to Arsenal by Emirates, with the City of Manchester Stadium now set to be renamed the Etihad Airways Stadium in a record deal
By Adithya Ananth

Manchester City has announced the richest stadium naming rights deal in soccer history after signing an agreement with current shirt sponsor Etihad to rename the City of Manchester Stadium to Etihad Airways Stadium starting next season.

"Manchester City Football Club and Etihad Airways have today announced a 10-year comprehensive partnership agreement significantly expanding their existing commercial relationship," the team's official website announced.

"The deal was signed today by Garry Cook, CEO of Manchester City FC and James Hogan, CEO of Etihad Airways before the Manchester City first team squad departed on a preseason tour to the United States."
The Abu Dhabi-based airline already pays 2.6 million euros per year through the shirt sponsorship deal, and is now set to pay over 11.3 million euros a season through the current deal, as Goal.com revealed in May.

A fee of such magnitude surpasses the 112.5 million euros paid by Emirates to secure an agreement with Arsenal in 2006, although the Eastlands club consulted the north Londoners in the process of finding its new sponsor.www.goal.com