American soft drink giant Coca Cola has signed a one-year advertising and sponsorhip deal worth Sh24.5 million with Nyayo National Stadium in Nairobi.
The agreement comes after almost three years of negotiations following the breakdown of a 2009 contract between Coca Cola and Sports Stadia Management Board (SSMB) and the Kenyan ministry of sport.
The new deal gives Coca Cola exclusive branding and beverage supply rights for one year at the 30,000-seat stadium at Nyayo, the aquatic centre, basketball and handball courts.
The original deal would have seen Coca Cola enjoy exclusive naming, branding and marketing rights at the stadium (including the indoor arena, handball court and aquatic centre) for three years, at a cost of Sh98 million.
The agreement was terminated by former sports minister Helen Sambili, concerned over what she regarded as inadequate consultation, and resulted in all the SSMB members being relieved of their duties and replaced with a new board.