For the first time in its history Juventus Stadium will change its name. From July onwards it will be called Allianz Stadium, following a €75-million deal.

On Thursday Juventus confirmed that an agreement has been reached with insurance firm Allianz to take up naming rights of Juventus Stadium. Starting July 1 the building will officially be named Allianz Stadium until June 30, 2023.

The six-season deal has no official price tag put on it, however the renowned Italian website Calcio e Finanza suggests the insurer has to spend €75 million for the naming rights. This would make it the most expensive naming rights deal in Italy and one of the most expensive such deals ever made by Allianz, even if not among the longest.

The contract also includes significant benefits for Sportfive-Lagardere, who brokered the deal. They are to receive €15 million in total, paid in five annual payments of €3 million.

For Juventus the naming rights deal ends a prolonged period of attempts to garner a satisfying partnership. Even before the building opened in August 2011 talks were held but we're only seeing a positive outcome now.

For Allianz in turn it's one more in a growing list of stadiums worldwide. The company also has rights to Allianz Arena (Munich), Allianz Park (London), Allianz Parque (Sao Paulo), Allianz Riviera (Nice), Allianz Stadion (Vienna) and Allianz Stadium (Sydney).