O2 has secured a record £200m deal to keep naming rights to London's O2 venue for 10 more years, extending the sponsorship through 2038. The Guardian reports this is the largest renewal of its kind in UK history.
The agreement represents a 50% premium on the previous contract, according to The Guardian's exclusive reporting. O2 chief executive Jemilah Mahmood told the publication the deal reflected "the venue's market leadership and the strength of the partnership between O2 and Live Nation."
The O2 is a major concert and sports arena in London's Greenwich Peninsula, hosting hundreds of events annually. The venue operates under a partnership with Live Nation Entertainment.
This renewal makes O2's naming rights deal the second longest-running in UK stadium history, behind only Arsenal's partnership with the football club's London ground, The Guardian reported.
The extended deal caps what The Guardian describes as a "bonanza year" for the live venue. No additional details on the venue's financial performance or attendance figures were provided.