The government of Western Australia has agreed a deal with Optus for the telecommunications company to become the naming-rights sponsor of the new state-of-the-art Perth Stadium.

Under the 10-year agreement, the 60,000-seat venue will be officially known as Optus Stadium. According to the West Australian newspaper, the deal will be worth more than Aus$50m (€33m/$38.3m) over the 10 years.

Branding and signage at the stadium will be altered in the coming months to reflect the stadium’s new name.

Western Australia’s Sport and Recreation Minister, Mick Murray, said: “This naming-rights deal is about sensible financial management and delivers a substantial, ongoing revenue stream back to the people of Western Australia.

“The deal is critical to the stadium being financially self-sustaining, making sure there is no additional burden put on taxpayers to cover ongoing running costs. The alternative is to borrow even more money or increase the burden of budget repair on the shoulders of Western Australian households and businesses.

“The value of the deal has far exceeded expectations, delivering a higher than expected return to taxpayers – above what we estimated in opposition and at the start of the tender process.

“We now have a long-term agreement which guarantees a multi-million-dollar return for the state – and we can continue securing world-class content to boost tourism and create jobs.

“Mandating ‘Perth’ in the name was not a requirement in this agreement, as the State Government chose to avoid reducing the financial benefit to the state. The McGowan Government doesn’t have the option of squandering potential income and the tourism focus of this government is on direct campaigns to attract new visitors to WA.”

The newly-branded Optus Stadium will open on January 21. It will host rugby, cricket and AFL Aussie rules football matches, as well as music concerts.

Image: Perth Stadium