Aviva Stadium ‘will be worth US$3 billion’ to Dublin economy
The rebuilt Lansdowne Road, the home of Irish soccer and rugby, will be known as the Aviva Stadium for ten years after a deal was agreed with the insurance company.
Philip Browne, chairman of the Lansdowne Road stadium development company and chief executive of the Irish Rugby Football Union, says the stadium will have an impact of some €2.5 billion (US$3.2 billion) on the local economy over the ten years of the agreement.
"We believe that in the difficult economic conditions we are going through, Aviva Stadium will be of huge benefit to the economy as a whole," said Browne.
"Even taking the most conservative view, I do not think it would be exaggerating to say that Aviva Stadium could have an impact of some €250 million on the local economy each year."
Browne added that research shows an Ireland versus England rugby match is worth more than US$100 million to the local economy over a single weekend.
Aviva has paid US$50 million for the naming rights to Lansdowne Road as it seeks to expand brand awareness. The company previously traded as Norwich Union in the UK.
Browne confirmed that he hopes the Aviva Stadium will be the venue for the final of the 2011 Heineken Cup, European rugby's premier competition.
The stadium, which will open in the spring of 2010, has already agreed a deal to host the Uefa Europa League final in 2011.
It will be Ireland's first Uefa elite stadium, with an all-seater capacity of 50,000, and will play host to all the home games of the national soccer and rugby teams.
- Length of contract: 10 years
- Annualised value: US$8 million
- Overall value: US$80 million
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