Major League Soccer (MLS) expansion franchise Austin FC have sold the naming rights for their under-construction US$260 million stadium to Q2 Holdings, a local financial solutions provider, reports, www.sportspromedia.com/.
The multi-year deal means the 20,500-seater venue will be known as Q2 Stadium, which is scheduled to be completed in spring ahead of Austin FC's debut MLS season.
The financial terms of the agreement were not made public but Matt Flake, Q2 president and chief executive, told Forbes that the deal represents 'less than one per cent' of the Austin-based firm's annual revenue, which the company estimated in its third quarter financial report would amount to as much as US$404.5 million in 2020.
Other elements of the tie-up include Q2 becoming Austin FC's official community partner, which will see the pair introduce an annual campaign that will result in approximately US$150,000 being allocated to local non-profit organisations.
In addition to stadium naming rights, Q2, which will be designated as the official financial experience partner and official technology sponsor of Austin FC, has also secured title sponsorship for the Q2 Field Club, a premium seating experience adjacent to the player benches and changing rooms.
