THE ARENA FONTE NOVA became the first Fifa World Cup 2014 venue to secure a naming rights partner after agreeing a 10-year deal with beer brand Itaipava.
According to local news reports the contract with Petropolis brewery, Itaipava’s parent company, is worth around R$10 million ($4.9 million) per year.
The stadium will host matches during the 2013 Confederations Cup, the 2014 World Cup, and the Rio Olympics in 2016. Brazilian top tier side Esporte Clube Bahia will be the ground’s main tenants.
However, the agreement will not be valid during the World Cup as Fifa regulations stipulate that only official Fifa partners are recognised during the tournament.
“Winning this contract at the beginning of operations is of the utmost importance for the economic sustainability of the venue, and allows the reduction of public investment from the government,” said Frank Alcantara, president of the Arena Fonte Nova.
The venue, based in Salvador, will now be known as the Itaipava Arena Fonte Nova, and is set to be opened on April 7.