O2 Renews Naming-Rights Deal for London Arena Through 2038

British telecommunications provider O2 has extended its naming-rights partnership for London's O2 entertainment venue through 2038, renewing one of the United Kingdom's most prominent arena sponsorship agreements.

London's O2 arena will retain its name through 2038 under a renewed naming-rights agreement between O2 and venue operator AEG.

O2 and venue operator AEG recently announced the 10-year extension.

The agreement will maintain the O2 name at the arena and continue the companies' partnership as the venue approaches its 20th anniversary in 2027. AEG described the deal as the largest naming-rights renewal of its kind in UK history.

The companies said the agreement will also provide additional benefits for O2 customers, including 50% more tickets to shows at the venue available through O2 Priority.

The financial terms were not disclosed in the companies' announcement. A reported estimate of at least $265 million for the extension could not be independently confirmed and has therefore been omitted.