Greek soccer giants Panathinaikos FC have announced a record sponsorship agreement with domestic sportsbook Novibet for the naming rights to its new home stadium.
Sportcal understands the deal is worth an initial €50 million ($55.6 million) across a seven-year term, with bonuses (likely related to domestic performance) taking the figure to a maximum of €53 million.
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The value makes the deal the most valuable sports sponsorship agreement in Greece.
The annual fee of €7-7.5 million eclipses local rival (and reigning Greek champions) AEK Athens’ naming rights deal with rival betting operator Allwyn, which is reportedly worth less than a third of Novibet’s sponsorship, around €2 million per year.
Per GlobalData Sport, that figure places the Novibet sponsorship in the top 15 stadium sponsorship agreements in Europe, in a similar range to Groupama’s sponsorship of French side Olympique Lyonnais’ home, or Turkish brand TUPRAS’ naming rights for the stadium of Istanbul giants Besiktas.
Earlier in the year, Allwyn’s attempt to acquire Novibet was scrapped after the Hellenic Competition Commission, the country’s competition authority, intervened.
Had the deal gone through, this sponsorship may not have taken place in the same fashion, if at all.
The name of the new 39,074-capacity venue, set for completion ahead of the 2027-28 campaign, has not yet been confirmed, although it is likely to have two separate monikers, a Novibet-branded official name, and an unbranded cultural name to link it to Panathinaikos.
Unlike many other stadium naming rights deals, Novibet is not an existing partner of Panathinaikos, and will not extend its partnership beyond the stadium, meaning that rival operator Superbet, which holds the front-of-shirt inventory for Panathinaikos’ first team, will retain that branding slot.
Through the first 10 games of the 2026-27 campaign, Panathinaikos sits atop the Greek Super League with 27 points, putting them on track to win a first league title since the 2009-10 season.
