French insurance company Groupama has renewed an agreement for naming rights to the home stadium of Ligue 1 football club Olympique Lyonnais.

The venue has been known as Groupama Stadium since 2017 as part of a three-year deal, which at the time was reportedly worth between €5m (£4.5m/$5.9m) and €7m per year.

Groupama has now signed a new two-year deal with Lyon to retain naming rights to the 59,000-seat stadium. Lyon said the new deal will provide Groupama with greater visibility around the stadium.

Groupama managing director Francis Thomine said: “We are proud to retain naming rights of Groupama Stadium, an emblematic place that brings to life the passion for sport and major professional and cultural events. The Groupama Stadium is also an economic lever for Lyon and its territory. We wish OL every chance of success, in its sporting performances and in its economic development.”

Lyon president Jean-Michel Aulas has previously hinted that a new stadium sponsor would be sought, with French newspaper L’Équipe reporting that he felt the financial value of Groupama’s previous deal was not satisfactory. A new deal has been reached but Lyon did not disclose financial terms of the agreement.

Groupama Stadium opened in January 2016 and was one of the host venues for the UEFA Euro 2016 tournament that summer. The stadium was also one of the main venues during the 2019 FIFA Women’s World Cup and staged the final between USA and the Netherlands.

Image: Groupama Stadium