LaLiga Santander: ABanca and Deportivo La Coruña sign a refinancing and naming agreement

The Spanish bank ABanca has signed an agreement with RC Deportivo de La Coruña (LaLiga Santander) to refinance the club's debt, and also to extend its partnership with the club by obtaining the naming rights to its stadium, on 29/06/2017. "ABanca and RC Deportivo presented the agreement in which the financial institution has provided (a loan of) €45m, which have allowed the Club to cancel its privileged debt with Spain's Inland Revenue," announced Deportivo La Coruña.

"The operation, which allows RC Deportivo to strengthen its sporting and institutional project, has a 15-year treasury plan associated to it, with which the Club will be able to face the annual financial burden with more ease," added the club. This agreement will also allow the club to finance the renovation of its stadium, the Estadio Riazor (34,600 capacity), announced on 28/06/2017 (see below).

In parallel, ABanca, the back of the shirt sponsor of Deportivo La Coruña, has extended its partnership with the club which will now expand to the naming rights to the stadium, which will now bear the name of Estadio…