Europe news

Spartak strike $40 million stadium deal

February 19, 2013
By ESPN staff

Spartak Moscow have sold the naming rights to their unfinished stadium to a local bank for more than $40 million (£26 million).

Luzhniki Stadium
GettyImagesThe Luzhniki Stadium is the current home of Spartak Moscow

Spartak's new 44,000-seater stadium is set to be complete in 2014, when a four-year deal with the Otkritie (Open) Bank will run until the end of 2018.

The stadium, which is based in the North-West of Moscow, will host group matches for the 2017 Confederations Cup and the World Cup the following year.

The club's billionaire owner, Leonid Feduntold, told reporters at the construction site: "Several generations of Spartak players starting from the early 1930s have dreamed of playing in their own stadium. Their dreams are soon to become reality."