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Atalanta and Intesa agree mutlifaceted sponsorship for €40m stadium loan

Italian Serie A side Atalanta has announced that a deal has been signed with Italian bank Intesa Sanpaolo who will finance the renovation of the club’s Gewiss Stadium.

The principle lender in Italy for sports facilities, Istituto per il Credito Sportivo, have come to an agreement with Intesa Sanpaolo that will allow €40 million worth of funding to help the club to complete their stadium renovation by 2021.

Atalanta first released plans for the stadium redevelopment in April 2019 in which they have since then begun the expansion of the stadium, increasing the stadiums capacity from 21,300 to 24,000, while also enhancing the quality of the services provided.

As a part of the deal, Intesa Sanpaolo will become Atalanta’s main banking partner while also being the youth teams main sponsor. In addition to this, the grandstand in the stadium will be renamed to ‘Renaissance’, which is a programme launched by Intesa Sanpaolo and the Municipality of Bergamo to help local businesses in Italy during Covid-19.

Chief Executive of Atalanta Luca Percassi said in a statement: “Establishing a partnership with the largest Italian banking group, as well as one of the main ones in the European area, can only make us proud.

“Such an important agreement, in a difficult moment like the one we are experiencing worldwide, confirms and strengthens the will of our company to continue its growth path. Completing the Gewiss Stadium redevelopment project means not only offering our fans a more comfortable and modern structure but restoring an entirely redeveloped, more liveable and family-sized area to Bergamo and the people of Bergamo.”

Chief Executive and general manager of UBI Banca, Gaetano Micciche said: “We are really proud to present this agreement today, so as to actively contribute to a project that will allow, among other things, Atalanta Calcio and the city of Bergamo to play and win in a state-of-the-art, more functional, larger stadium, to be proudly displayed in Europe.

“This partnership is intended to be a tangible sign of the commitment of the new reality that is emerging from the integration between Intesa Sanpaolo and UBI Banca for its reference territories.”

Author: Bradleigh Amis