Mahindra Stadium could be the new name for the Olympic Stadium bringing London Legacy Development Corporation (LLDC) long search for title sponsor to an end. The Indian conglomerate could receive naming rights when West Ham United moves to the stadium later this year.
The deal and terms of agreement signed to this effect is slated to be worth around £6 million (INR 57.09 crore) per annum. The East London Club would earn £ 1 million via tenancy agreement while also giving them half of the proceeds of naming rights above £ 4 million per year.
Mahindra Group, one of the largest corporate groups of India and headquartered in Mumbai, has businesses spanning energy, defence, electronics, automobiles and farm equipment with annual sales of £11 billion. The final announcement is set for later this season when West Ham bids farewell to Upton Park, their current home. Following this, they will become anchor tenants of the £701 million Olympic Stadium on a lease period of 99 years.
While arriving at the final decision for title sponsor took time and a long legal battle ensued, it was Sir Martin Sorrell’s new firm ESP that helped seal the deal. Though Mahindra Group is not well established in the UK as on date, it was just last week that the company made its entry into the UK automotive market with launch of the new e2o electric car in the country.