He WiZink Center, multipurpose space located in the center of Madrid, will be renamed Movistar Sand from 2025 following the sponsorship agreement that Telephone has reached with Promotes Events and Installations, company that manages the facility owned by the Community of Madrid.

As Telefónica has indicated in a statement, the change occurs due to the end of the agreement of the naming sponsorship by WiZink Bank. The financial entity has given its name to the space for almost a decade, since the agreement was launched in 2016, but now it would have launched a new strategic plan 2025-2028, which would not include the commitment to the venue.

“We are very proud to have contributed to the growth of the Center during the ten years of sponsorship and to have positioned the space as the reference place for sport, music and the celebration of major events not only in the Community of Madrid, but also at the national level“, noted Iheb Nafaa, CEO of the entity, in the statement.

WiZink’s decision represents a twist in your trading strategyl, since he had rights and pre-agreements to continue holding rights naming until 2028. However, it has chosen not to execute the agreement until that date, considering the sponsorship amortized. The company assures that it will focus on the transformation towards a B2B2C model and on the diversification of products and services through alliances with third parties.

The Sports Palace of the Community of Madrid will be officially renamed Movistar Arena, once approved by the authorities. Telefónica explains that it is a global commitment for the company, which already sponsors similar venues in Buenos Aires, Bogotá and Santiago de Chile with the same name, as well as in London and Prague with its O2 brand.

“For Telefónica it is a huge satisfaction to culminate the year of our Centennial with the announcement of the sponsorship of a venue that is a world reference for the quality and quantity of the events it hosts.“commented Emilio Gayo, President of Telefónica Spain. “From 2025 the Movistar Arena will be a great connection center between people and the world of music and entertainment, and a space in which we will have the opportunity to deploy our technological and digital leadership”.

For its part, Impulsa Eventos e Instalaciones points out that the association with Movistar will allow Leverage the company’s technological expertise to enhance the possibilities of the venue. The Community of Madrid considers that the agreement reflects the public-private collaboration aimed at excellence in public service; as well as the region’s commitment to sports, culture and tourism.

Telefónica highlights in its statement that the future Movistar Arena will have a maximum capacity of 17,400 spectators, and is currently one of the busiest venues in the world, with more than 200 events and 2 million visitors annually. The company intends to relaunch the venue by incorporating technological innovations aimed at improving the user experience.