At a glance
- Company
- Malaysia External Trade Development Corporation (MATRADE)
- Announcement
- Partnership
- Location
- London, United Kingdom
Key figures
- Partnership term
- three-year
- Partnership cost
- GBP 1.2 million
- Annual cost
- GBP 400,000 per year
- Loftus Road Stadium capacity
- 18,169-pax
- Malaysia-UK trade
- RM17.58 billion (£3.24 billion)
People
- Dato’ Seri Reezal Merican Naina MericanChairman of MATRADE
- Datuk Ruben Gnanalingam AbdullahQPR co-owner and MATRADE board member
- Tengku Datuk Seri Utama Zafrul AzizMinister of Investment, Trade and Industry
- Datuk Mohd Mustafa Abdul AzizChief Executive Officer of MATRADE
- Lee HoosChief Executive Officer of QPR
London, October 28, 2023 -- The Malaysia External Trade Development Corporation (MATRADE) is thrilled to announce its new agreement as the naming rights partner for Queens Park Rangers (QPR) Football Club's iconic Loftus Road Stadium in London, United Kingdom.
As Malaysia’s lead agency for the promotion of Malaysian-made products and services for export, the naming rights agreement is a highly valuable platform for raising MATRADE’s profile and visibility significantly in the United Kingdom.
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.
The stadium was officially renamed to MATRADE Loftus Road Stadium in a ceremony by the Chairman of MATRADE, Dato’ Seri Reezal Merican Naina Merican, accompanied by the co-owner of Queen Park Rangers football club, Datuk Ruben Gnanalingam Abdullah, who is also the board of director of MATRADE, during a visit to the stadium on 28 October 2023. Also present at the ceremony were the High Commissioner of Malaysia to the United Kingdom, Dato' Zakri Jaafar, senior board of director of MATRADE, Dato' Hazimah Zainuddin and Chief Executive Officer of MATRADE, Datuk Mohd Mustafa Abdul Aziz.
Minister of Investment, Trade and Industry, Tengku Datuk Seri Utama Zafrul Aziz said: “The UK is the world’s sixth largest economy. Trade between Malaysia and the UK currently stands at RM17.58 billion (£3.24 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.”
Dato’ Seri 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 United Kingdom by leveraging QPR’s long-standing history in the English Football League.
“When I initiated the proposal for MATRADE to rebrand itself after 30 years of its establishment, I see that the naming rights partnership is an opportunity for MATRADE to elevate our brand visibility in Europe and the international scene as a whole,” he added.
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 GBP 1.2 million (GBP 400,000 per year) will be absorbed by QPR’s Malaysian co-owner, Datuk Ruben Gnanalingam Abdullah, who is also a Board member of MATRADE, as part of his Corporate Social Responsibility to Malaysia.
Lee Hoos, Chief Executive Officer of QPR, said the decision to render the naming rights of the stadium was made with the commercial interests 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.
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Questions around this news
What does a stadium naming rights partnership involve?
A naming rights partnership gives a sponsor the right to have its name associated with a venue, often in exchange for funding or other support. The arrangement may also include promotional visibility at the venue and in related communications. The specific rights and responsibilities depend on the agreement between the parties.
How long is the MATRADE and QPR naming rights agreement, and who will pay for it?
The release describes the collaboration as a three-year agreement. It says the partnership is valued at GBP 1.2 million, or GBP 400,000 per year, and that QPR’s Malaysian co-owner, Datuk Ruben Gnanalingam Abdullah, will absorb the full cost as part of his corporate social responsibility to Malaysia.
Why is MATRADE partnering with QPR on the stadium name?
The release says the stadium platform is intended to increase MATRADE’s visibility in the United Kingdom and raise Malaysia’s profile as a trading nation. It also describes the partnership as a way to promote Malaysian exports and connect trade, including when sporting events at the stadium are broadcast.
What is the CPTPP, and how does a country join it?
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership is a trade agreement among economies in the Asia-Pacific region. It sets shared rules for trade and investment and seeks to reduce barriers between members. A country seeking to join must go through an accession process involving members’ consideration and agreement.
