ANZ Bank gets naming rights

The ANZ Bank, keen to raise its profile in Sydney, has assumed naming rights of the Telstra Stadium at Sydney Olympic Park after agreeing to pay $31.5 million over the next seven years, after Telstra terminated its deal early as part of a move to wind back sporting sponsorships.

The deal follows ANZ's takeover the stadium early in 2007 in a deal worth about $190 million, after Stadium Australia Group took on too much debt.