Intesa Sanpaolo has been named as the official sponsor and banking partner of the Serie A Italian football club Atalanta Bergamasca Calcio (Atalanta BC).

The duration and financial terms of the deal have not been divulged.

The deal comes ahead of Atalanta’s quarter-final game against Paris St. Germain FC.

Under the agreement, the bank will also become the main sponsor to the teams that make up its youth sector.

Additionally, Intesa has teamed up with Istituto per il Credito Sportivo (ICS) to co-finance a ‎€40m ($47m) investment to renovate the club’s Gewiss Stadium.

ICS is the principal lender for Italian sports facilities.

Atalanta BC and the City of Bergamo launched the renovation project together.

Under this project, Atalanta will expand the stadium capacity to 24,000 seats by the end of 2021. It will also construct an underground car parking area with 285 spaces.

Additionally, the club will rename the stadium to Rinascimento or ‘Renaissance’ to support the Covid-19 emergency program launched by Intesa and City of Bergamo.

Atalanta BC CEO Luca Percassi said: “Establishing a partnership with the largest Italian banking group, which is also one of the largest in the Eurozone, can only make us proud.

“Completing the Gewiss Stadium renovation not only means providing our fans with a more comfortable and modern structure but also giving a completely redeveloped, more liveable and family-friendly area back to the city of Bergamo and its citizens.”

The sponsorship deal follows Intesa’s recent acquisition of its rival UBI Banca.

UBI Banca CEO and GM Gaetano Micciche said: “We are extremely proud to announce this agreement today and thus make a real contribution to a project that will also allow Atalanta and the city of Bergamo to play and win in a more functional, larger, state-of-the-art stadium that will be proudly showcased across Europe.”

Sports sponsorship deals:

In April, Deutsche Bank extends its sponsorship deal with German football club Eintracht.

In March, UK digital challenger Starling was named as the official banking partner of Team GB for the upcoming Tokyo Olympics.

In February, HSBC decided to terminate its sponsorship deal with British Cycling by the end of this year and CIMB became the title sponsor of premier football league Liga Super Malaysia.