Riyadh Air have been sponsoring Atletico's kit since 2023 and have now expanded their partnership to the stadium.
Atletico chief exec Miguel Angel Gil said: "Just over a year after signing the sponsorship agreement with Riyadh Air, we are all proud and very pleased to announce the extension of the alliance signed then with the agreement by which our stadium will be called Riyadh Air Metropolitano.
"Thank you to Tony Douglas and his entire team for trusting in Atlético de Madrid as a strategic partner for the launch and development of its ambitious project at a global level."
Riyadh Air chief exec Tony Douglas said, “It is an honour to become the naming partner of Riyadh Air Metropolitano and to extend our partnership with Atlético de Madrid until 2033. Both organisations are motivated to succeed at the highest level and having our name on such an iconic stadium will increase Riyadh Air’s recognition across the sporting world and beyond."