Hamilton Academical has signed a new naming-rights partner for its home stadium – just months after the Scottish Premiership football club agreed a deal with cannabis oil products manufacturer HopeCBD.
The Daily Record newspaper reports that Hamilton has signed a five-year, £750,000 (€876,000/$997,000) deal with Foy’s, a regenerative medicine research company, for naming rights to the New Douglas Park stadium.
As part of the agreement, the stadium will be renamed as the Fountain of Youth Stadium. A Foy’s wellness clinic will also be built near the ground, which will create up to 20 new jobs in the area.
Hamilton chief executive Colin McGowan told the Hamilton Advertiser: “In addition to this, the new sponsor Foy’s, who are part of WSA Holdings Ltd, have also consented to build a new TV gantry and architects have to be engaged in the near future.
“Unbelievably, their plans also include the building of a new research and wellness centre at the stadium. This will replace the lapsed consent for the 21 residential houses initially planned and could also create up to 20 jobs for the local area.
“Foy’s are currently based within the stadium to execute this magnificent project. The centre will deliver advanced and state-of-the-art treatments and preventative measures for degenerative illnesses, sports injuries and aesthetics, using stem cell technology.”
The move comes after Hamilton was criticised last July for agreeing a naming-rights partnership with HopeCBD. Hamilton defended the decision at the time, saying that the agreement was “within the ethos” of the club.
Some fans had raised concerns over the club being affiliated with HopeCPD, which supplies products that contain cannabidol (CBD), a non-psychoactive compound found in the hemp plant that is part of the cannabis family.
That deal renamed Hamilton’s home ground as the HopeCBD Stadium but McGowan said the company is now “happy to step aside” and make way for Foy’s. McGowan said the Foy’s deal “far exceeds what HopeCBD would contribute”.