The Groupama Rhône-Alpes Auvergne division of French insurance firm Groupama has upgraded its partnership with Olympique Lyonnais to take on naming rights to the Ligue 1 football club’s home stadium.
The two parties have signed a three-year deal to rename the Parc OL ground as the Groupama Stadium. The deal includes the option of an extension.
Financial terms of the agreement were not disclosed, but the AFP news agency reported that Lyon had been seeking an annual fee of between €5m ($5.7m) and €7m for the rights.
Groupama is a long-term partner of Lyon and sponsors the club’s men’s, women’s and youth teams. The company also holds naming rights to the club’s training ground and youth academy.
Under the new agreement, Groupama will benefit from brand exposure inside and outside of the stadium. The company will also be allowed to use images of the stadium to promote its offers and services.
In addition, Groupama will be granted the use of the stadium throughout the year.
Lyon chairman Jean-Michel Aulas said: “I am particularly pleased and proud of the signing of this global industrial agreement and naming-rights partnership with Groupama Rhône-Alpes Auvergne. We have always been convinced that what was possible abroad would also be possible in France. We were able to imagine together a partnership that transcends the simple visibility of a brand on a stadium.”