Industry News

Crédit Mutuel takes naming rights to new Strasbourg arena

Financial services company Crédit Mutuel has been unveiled as the new naming-rights partner of a new arena in the French city of Strasbourg.

The arena will serve as the home of French basketball team Strasbourg IG and will be known as the Crédit Mutuel Forum.

Work on the arena is set to begin in the first half of 2019, with a completion date having been set for September 2021. The arena will cost €40m to build, Strasbourg IG said. It will be built on the site of the current Rhénus Sport facility (pictured).

Club president Martial Bellon said: “We are aware that, in order to progress, we must necessarily rely on equipment that meets European standards, in particular by strengthening the area reserved for the reception of economic partners with equipment.

“We imagined an innovative process that would lead the club to take on most of the funding, building on the possibilities of the new loan guarantee legislation and a company that gives its name to the community.

“We have taken the habit of proceeding step by step. Today, everything is not completed, but we are moving forward, according to the imagined calendar. We still have to work on the business plan on the operation of the new equipment and the financing plan for the end of the year with the signing of the emphyteutic lease.”

Image: Tux 67