Air Albania has purchased the rights to name the National Stadium after itself at a cost of €3.2 million, despite not fulfilling the criteria for purchase.
The airline was founded in 2018 but it had no revenue in the last year- a fact which should preclude it from purchasing the rights. One of the conditions imposed by the Albanian Football Association (FShF) for those wishing to buy the right to have the stadium named after their brand is them having at least €10 million in revenue during the last 12 months.
According to Top Channel, Air Albania’s bid was €650,000 per year for five years, far higher than Bolv-Oil, Vodafone, or Sigal.
The deal has raised a number of suspicions, due to the fact that the FShF specifically states that a certain amount of revenue is a prerequisite for purchase.
“The expression of interest [from the companies] will consist of a letter stating that the company is interested and presenting basic documentation for the company’s turnover and a resume of its activity in our country or abroad,” they said.
Air Albania was formed on 13 August 2018 and is partly owned by state-owned AlbControl, Turkish Airlines, and MDN Investment which is alleged to be also Turkish owned. It is not known how Air Albania could meet this requirement, considering that in its balance sheet for the period of 2018, it actually registered a loss of €100,000.
