Key facts
- O2 has signed a 10-year deal to retain naming rights for The O2 venue in London.
- The deal is valued at a record £200 million, extending the partnership until at least 2038.
- The annual cost of the new agreement is approximately £20 million, a 50% increase on the previous deal.
- The O2 venue achieved record pre-tax profits of £76.5 million in 2025.
- O2 customers will receive 50% more priority ticket access to events at The O2.
O2 has secured a record-breaking £200 million deal to extend its naming rights for the London venue, The O2, for another 10 years, through to at least 2038. This renewal cements the partnership as the second longest-running stadium naming rights deal in the UK.
The agreement with Anschutz Entertainment Group (AEG), the venue's owner, represents a significant increase in annual spending for O2, with the operator now paying approximately £20 million per year. This is nearly a 50% rise from the previous agreement's annual cost and more than triple the initial £6 million per year O2 paid when the venue first opened in 2007.
Paul Samuels, president of global partnerships at AEG International, noted the venue's transformation from the site of the "biggest white elephant" Millennium Dome to a highly successful entertainment hub, hosting 239 shows last year compared to an initial concern about reaching 100.
Newly published accounts for 2025 show The O2 had its best year in its 19-year history, with pre-tax profits up 18% to £76.5 million and revenues climbing 14% to £148.6 million. This success allowed for a £27.5 million dividend payment to its US parent company.
Gareth Griffiths, director of partnerships and sponsorships at Virgin Media O2, emphasized the venue's value as a brand asset, crucial for customer retention and loyalty. Despite recent customer losses and cost-cutting pressures faced by VMO2's joint owners, Liberty Global and Telefonica, Griffiths stated that the company is fully committed to this 10-year investment as a sign of intent for brand growth.