First naming rights contract in the history of Parc OL is signed. For at least three years it will be known officially as Groupama Stadium.
It was rumoured for many weeks that Groupama might be the first naming rights holder for Parc OL, the 1.5-year old stadium of Olympique Lyonnais. The insurance giant has been involved in Olympique and is the sponsor of their training centre (€1.3 million per year), so it came as no surprise.
Even in the official response to speculation by Olympique in June it was confirmed that Groupama is among the companies the club had been in talks with.
Signed this week, the contract is expected to last 3 years, though both sides have the option to extend it further. As is customary, the value hasn't been revealed, though estimate of €6 million annually is the most common one.
Why? Simply because Lyonnais' owner Jean-Michel Aulas himself claimed it would be among the highest in France and did not dismiss the €5-7 million suggestions out of hand.
For Olympique's new stadium it's the first deal, but for Groupama it follows another naming rights contract for Budapest's Groupama Arena. That said, some critics mock the deal due to Groupama brand's green colour, which also is the main colour of AS Saint-Etienne, archrivals of Olympiqiue.
Parc OL, now Groupama Stadium until 2020, is France's largest private stadium, opened early into 2016 just outside Lyon. It was built for an estimated €410 million.