Galatasaray signed a 5-year sponsorship deal worth $40 million with Türk Telekom, a Turkish telecommunications company.
The deal, signed Tuesday, will go through at the start of the 09-10 season and will include the naming rights to the Turkcell Super League champion's new stadium in Istanbul's Seyrantepe district.
The deal also includes a shirt sponsorship, so the Türk Telekom logo will replace the current one, Avea, in Galatasaray jerseys next year, when the club's deal with the Turkish mobile phone operator is done.
Galatasaray was to name the stadium Aslantepe, meaning “Lion Hill”, in reference to the emblem of the Turkish team. Now it will be known as the Türk Telekom Stadium.
The stadium is currently in the process of being built, with works reported to be completed in early 2010.
Recently, German clubs Bayern Munich, Schalke 04, and Arsenal, have also had new stadiums sponsored. Arsenal is reported to have made a deal with Emirates worth $200 million for 15 years, and Bayern is to receive approximately $9 million a year from the Allianz Group.