Australian telecommunications company Optus has agreed a 10-year deal to take on naming rights to the new Perth Stadium, which is scheduled to open in January.
The contract renames the 60,000-capacity venue as Optus Stadium, with Optus to also serve as the telecommunications and internet services provider of the facility.
Financial terms of the agreement were not disclosed, but The West Australian newspaper said the deal would be worth more than Aus$50m (€33m/$38.3m) over the 10-year period. These terms are a significant increase on the Aus$10.5m over three years targeted by the local Labor government back in March.
Signage and communication material at Perth Stadium (pictured last week) will be updated in the coming months to reflect the venue’s new name. The stadium will open to the public with a free open day on January 21.
The partnership with Optus is in line with a broader commitment from Optus in Western Australia, with a three-year, Aus$275m program of work to improve network coverage in the state almost complete.
An Optus Stadium App will be built to enhance the experience for fans attending events at Perth Stadium, which is due to stage rugby, cricket and Aussie rules matches. The West Australian also noted that the venue would retain its Perth Stadium moniker for cricket matches due to contractual obligations with Cricket Australia.
Mick Murray, Sport and Recreation Minister for Western Australia, said: “This naming rights deal is about sensible financial management and delivers a substantial, ongoing revenue stream back to the people of Western Australia.
“The deal is critical to the stadium being financially self-sustaining, making sure there is no additional burden put on taxpayers to cover ongoing running costs. The alternative is to borrow even more money or increase the burden of budget repair on the shoulders of Western Australian households and businesses.
“The value of the deal has far exceeded expectations, delivering a higher than expected return to taxpayers – above what we estimated in opposition and at the start of the tender process.”
Murray added: “Mandating ‘Perth’ in the name was not a requirement in this agreement, as the State Government chose to avoid reducing the financial benefit to the state. The McGowan Government doesn’t have the option of squandering potential income and the tourism focus of this government is on direct campaigns to attract new visitors to WA.”
The Optus Stadium App will be the first of its kind in Australia and is intended to make it easier for fans to plan and attend events. The App will have built in functionality to enhance fan’s stadium experiences, showing users the most efficient way to enter and exit plus other unique functionality.
Optus managing director of product and marketing, Ben White, said: “We are continuing to evolve from a traditional telco provider to a mobile-led entertainment company and what better way to illustrate that with a combination of mobile network expansion, coupled with game-changing entertainment experiences for events at the new Optus Stadium.”