English rugby union side Leicester Tigers have expanded their partnership with wealth management company Mattioli Woods. This deal will see Mattioli Woods get the naming rights of the home stadium of Leicester Tigers.
The five-year deal will see the venue being renamed as Mattioli Woods Welford Road. It is an important deal for Leicester Tigers as the finances have been hampered during the pandemic.
This is the first time Leicester Tigers have sold naming rights of their stadium that has a capacity of 25,849.
The deal has come as a sigh of relief for the club, as all sports club have been facing financial issues due to the postponement or cancellation of the tournaments due to the pandemic.
The arrangement extends the support of Mattioli Woods beyond its existing shirt sponsorship and naming rights to the stadium’s East Stand. The financial terms of the deal have not been disclosed.
“Welford Road is an icon of world rugby as the home of Leicester Tigers and a venue that has helped to put Leicester on the sporting map,” said Leicester Tigers chief executive Andrea Pinchen.
Pinchen also insisted that the club is looking at innovative methods to generate revenue during the pandemic. He remains positive about things getting normal for the club soon.