Telecommunications firm Vodafone has reportedly pulled out of a potential deal to acquire the naming rights to the multi-purpose London Stadium in the English capital.
Various reports linked Vodafone with a six-year deal worth £20m (€23.3m/$25.8m) for the rights at the stadium, which is now home to English Premier League football club West Ham United, after serving as the centrepiece for the London 2012 summer Olympic and Paralympic Games.
However, according to The Guardian newspaper, discussions with venue owner the London Legacy Development have broken down, with sources suggesting a disagreement over the terms of the deal as the reason behind the breakdown.
Sky Sports also reported that Vodafone concluded the deal was not right for its brand or target audience. The broadcaster added that the proposed agreement would only cover football matches at the 60,000-capacity venue.
However, despite the breakdown in talks, a spokesperson for the stadium told the BBC that the venue is still “actively seeking a naming rights partner”.
The London Stadium representative added: “Interest remains high within the market and we are confident we will find the right partner.”
Last year, it was understood that the venue was close to agreeing a sponsorship deal with Indian conglomerate Mahindra. The agreement was said to be worth £750m, but the two parties were unable to agree on a final deal.
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