KUALA LUMPUR, Oct 28 — The Malaysia External Trade Development Corporation (Matrade) is now a naming rights partner for Queens Park Rangers (QPR) Football Club’s iconic Loftus Road Stadium in London, the United Kingdom (UK).
Matrade said the three-year naming rights agreement is a highly valuable platform for raising its profile and visibility significantly in the UK.
“Combined with the UK’s proposed accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CTPPP), Matrade will be utilising this valuable QPR stadium platform to further raise Malaysia’s profile as an open trading nation and expand trade, particularly when football matches or other sporting events are being broadcast from the 18,169-pax capacity Loftus Road Stadium,” it said in a statement today.
According to Matrade, the three-year collaboration marks an innovative first for both Matrade and QPR, uniting sports and trade promotion in a fresh, exciting way.
“The full cost of the naming rights partnership, valued at £1.2 million (RM6.9 million) , or £400,000 per year will be absorbed by QPR’s Malaysian co-owner, who is also a board member of Matrade, as part of his corporate social responsibility to Malaysia,” it said.
The stadium was officially renamed to Matrade Loftus Road Stadium in a ceremony by Matrade chairman Datuk Seri Reezal Merican Naina Merican, accompanied by the co-owner of QPR, Datuk Ruben Gnanalingam Abdullah, who is also the board of director of Matrade, during a visit to the stadium today.
Also present at the ceremony were the High Commissioner of Malaysia to the UK Datuk Zakri Jaafar, Matrade senior board of director Datuk Hazimah Zaharuddin and Matrade chief executive officer (CEO) Datuk Mohd Mustafa Abdul Aziz.
Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said the UK is the world’s sixth-largest economy.
“Trade between Malaysia and the UK currently stands at RM17.58 billion, and this is set to grow with the UK’s imminent accession to the CPTPP.
“To that end, the Matrade Loftus Road Stadium stands as a valuable branding platform and marketing tool in raising Malaysia’s profile in the UK and enhancing opportunities for Malaysian exports to this market,” he said.
Reezal Merican said Matrade will capitalise on this valuable platform to enhance its global recognition as a trusted agency to connect trade between Malaysia and the UK by leveraging QPR’s long-standing history in the English football league.
QPR CEO Lee Hoos said the decision to render the naming rights of the stadium was made with the commercial interest of the club.
“We are delighted with this agreement as the club is always looking at ways to increase our portfolio of partners. We look forward to working with Matrade,” he added. — Bernama
