February 16 – Real Madrid’s Santiago Bernabéu has been identified as Europe’s most valuable stadium naming rights asset, with an annual fair market value of €21.1 million (£18.4 million), according to new analysis from The Sponsor.
The findings come from The Sponsor’s European Stadium Naming Rights Fair Market Value Report, which assesses 75 venues across the continent. Described by the publisher as the most comprehensive valuation exercise of its kind to date, the study benchmarks sponsorship strength and comparable market transactions to determine what a stadium could reasonably command in an arm’s-length deal.
The Bernabéu is the only venue in the dataset to receive a AAA+ sponsorship strength rating. Despite undergoing a €1 billion redevelopment and regularly staging elite domestic and European fixtures, the stadium currently has no naming partner – a factor The Sponsor says makes it both the highest-valued and most commercially attractive opportunity in Europe.
Sean Connell, editor of The Sponsor, said the valuation reflects “an unrivalled combination of global reach, elite fixtures, central-city prominence, heritage and brand-new infrastructure.”
Across the top 10, the valuations are tightly grouped. FC Barcelona’s Spotify Camp Nou ranks second at €18.5 million annually, followed by FC Bayern Munich’s Allianz Arena (€16.4m), Arsenal’s Emirates Stadium (€14.5m) and Tottenham Hotspur Stadium (€12.9m). Manchester City’s Etihad Stadium and Liverpool’s Anfield also feature in the top tier.
In total, the top 75 European stadiums account for €520 million (£455m) in annual sponsorship value. Yet two-thirds of those venues currently operate without a naming rights partner, suggesting what The Sponsor characterises as an underutilised market.
Germany stands out with 14 of 18 Bundesliga stadiums carrying naming partners. The Sponsorship says that the average deal value – €8.5 million (£7.3m) – closely mirrors average fair market valuations, indicating pricing discipline and stable long-term agreements.
Elsewhere, the report lifts the cover on a few disparities. It suggests the Welsh Rugby Union undersold its Principality Stadium deal by an estimated €5.1 million per year, equating to a €51 million shortfall over a decade. By contrast, Juventus are identified as having secured a favourable premium in their Allianz Stadium agreement.
Looking ahead, The Sponsor also modelled the potential of a redeveloped Old Trafford. Based on a proposed 100,000-seat ‘New Trafford’, analysts project annual naming rights value at €17.2 million, or €172 million over a 10-year term. A sustained participation in the UEFA Champions League could push that figure beyond the €200 million mark.
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Contact the writer of this story, Harry Ewing, at moc.l1771245042labto1771245042ofdlr1771245042owedi1771245042sni@g1771245042niwe.1771245042yrrah1771245042
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