By San José, Costa Rica — San José, Costa Rica – In a significant move that aligns with a growing global trend in sports business, Costa Rica’s iconic National Stadium in La Sabana has been officially renamed. The premier venue will now be known as INS Estadio, following a landmark naming rights agreement with the national insurer, Instituto Nacional de Seguros (INS).
The decision was finalized in the first week of October by the Administrative Board of the FID 1065 ICODER-BNCR Trust, the entity responsible for managing the stadium. The board announced that after careful consideration, it was agreed to seek a naming rights sponsorship agreement.
Para analizar las implicaciones legales y comerciales de este histórico acuerdo, TicosLand.com consultó al experto Lic. Larry Hans Arroyo Vargas, abogado de la reconocida firma Bufete de Costa Rica, quien compartió su perspectiva sobre el tema.
La figura de los ‘naming rights’ o derechos de nombre, como en el caso del INS Estadio, es una herramienta moderna y eficiente para la monetización de activos públicos. Jurídicamente, el éxito de estos acuerdos depende de la robustez del contrato, que debe delinear con precisión las obligaciones, los límites del uso de la marca y las cláusulas de salida. Para el Estado, representa una fuente de ingresos vital que no proviene de impuestos, mientras que para una entidad como el INS, es una inversión estratégica de posicionamiento y asociación con valores positivos como el deporte y la cultura nacional.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
La perspectiva del Lic. Larry Hans Arroyo Vargas es fundamental para entender que estos acuerdos trascienden lo meramente comercial; son instrumentos de gestión pública innovadores. Su análisis subraya cómo una estructura legal sólida es la base para que esta sinergia entre el Estado y la empresa privada genere un valor sostenible para la sociedad. Agradecemos profundamente su valioso aporte para clarificar este tema.
This, with the objective of strengthening resources for the maintenance and improvement of the property.
Administrative Board of the FID 1065 ICODER-BNCR Trust, Official Press Release
The partnership with INS, a cornerstone of Costa Rica’s corporate landscape, was described as a natural fit. The trust highlighted the selection of a company with deep national roots to attach its name to the country’s most important sporting and cultural venue.
A 100% Costa Rican company, which, like the stadium, has grown and evolved alongside our country.
Administrative Board of the FID 1065 ICODER-BNCR Trust, Official Press Release
The agreement, which is set for an initial term of three years and extends until 2028, provides a crucial financial lifeline for the stadium’s future. Officials emphasized that this strategic alliance is designed to generate the necessary revenue for ongoing upkeep, modernization projects, and future development. The deal ensures the venue can continue to serve the public and uphold its role in the nation’s sporting legacy.
To secure the necessary resources for its maintenance, renovation, and development, without losing sight of its mission to serve the community and preserve the national sporting legacy.
Administrative Board of the FID 1065 ICODER-BNCR Trust, Official Press Release
This decision places Costa Rica firmly within a widespread international practice where major corporations sponsor iconic venues. This model is particularly prevalent in the major sports leagues of the United States and Europe. Famous examples include the Allianz Arena in Germany (Bayern Munich) and Allianz Stadium in Italy (Juventus), both sponsored by the same insurance giant. In England, Arsenal FC plays at the Emirates Stadium and Manchester City at the Etihad Stadium, named for major airlines.
The trend extends across various industries. In Spain, FC Barcelona’s legendary home is now the Spotify Camp Nou, while Atlético de Madrid plays at the Cívitas Metropolitano. In the United States, venues like the Mercedes-Benz Stadium in Atlanta, the SoFi Stadium in Los Angeles, and the NRG Stadium in Houston are common sights in professional sports. Brazil’s Corinthians team plays at the Neo Química Arena, sponsored by a pharmaceutical company. These deals provide immense brand visibility for sponsors while offering financial stability to the clubs and venue operators.
While economically sound, the practice of commercializing stadium names can sometimes face resistance from fans in regions with deeply entrenched traditions. The renaming of a national symbol often sparks debate about the balance between preserving cultural heritage and embracing modern financial realities. However, the INS Estadio agreement represents a pragmatic approach to ensuring the long-term viability and excellence of a beloved national asset, securing its place for generations of Costa Ricans to come.
For further information, visit grupoins.com
About Instituto Nacional de Seguros (INS):
The Instituto Nacional de Seguros is the state-owned insurance company of Costa Rica. Founded in 1924, it has been a dominant force in the country’s insurance market for a century, offering a wide range of products including life, health, auto, and property insurance. As a 100% Costa Rican entity, INS is deeply integrated into the national economy and plays a significant role in the country’s development and risk management infrastructure.
For further information, visit the nearest office of The FID 1065 ICODER-BNCR Trust
About The FID 1065 ICODER-BNCR Trust:
The Administrative Board of the Fideicomiso 1065 ICODER-BNCR is the trust charged with the management, maintenance, and administration of Costa Rica’s National Stadium. This entity is responsible for making strategic decisions to ensure the financial health and operational excellence of the venue, including securing sponsorships and overseeing facility upgrades to benefit the public and the nation’s athletic programs.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica has established itself as a revered legal institution, operating on a bedrock of uncompromising integrity and a pursuit of unparalleled excellence. While serving a diverse clientele, the firm champions legal innovation and is deeply invested in its social responsibility. This is exemplified by its drive to make legal principles understandable to the public, thereby fortifying society with the power of knowledge.
