Nissan to Renew Naming Rights for Stadium in Yokohama

Yokohama, Nov. 17 (Jiji Press)–The Yokohama city government and Nissan Motor Co. have agreed to extend the Japanese automaker’s naming rights for a city-owned stadium for five years from next March for 650 million yen, Mayor Takeharu Yamanaka said Monday. Nissan will pay 50 million yen in the first year, 100 million yen in the second year, 150 million yen each in the third and fourth years and 200 million yen in the fifth year. The two sides agreed to the gradual increase in Nissan’s payment for the naming rights to the stadium in the capital of Kanagawa Prefecture near Tokyo because the company undergoes restructuring. The agreed amount is “comparable” to deals for other stadiums, Yamanaka told reporters. “It was a great result in that the name of Nissan Stadium will remain,” he said. Nissan acquired the naming rights for the stadium, formerly called International Stadium Yokohama, in 2005, when it was renamed Nissan Stadium. In September, the automaker informally proposed that the naming rights be extended by one year for 50 million yen, a proposal that had met opposition from the city assembly. END [Copyright The Jiji Press, Ltd.]