February 9, 2010
Audi inks €90-million deal with Bayern Munich
Published: 26 Nov 09 17:21 CET
Online: http://www.thelocal.de/money/20091126-23545.html
Car manufacturer Audi has purchased a 9.09 percent stake in German football team Bayern Munich in a deal worth €90 million, the Bundesliga club announced on Thursday.
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The 10-year deal pushes Bayern's reported annual earnings through the €200-million mark.
The money will help towards repaying part of the €340 million-debt for the Allianz Arena stadium which they share with second-division side 1860 Munich.
"I am sure that this partnership will open up many new global possibilities for us," said Bayern's chairman Karl-Heinz Rummenigge. "I think it will help in the Asian market where Audi are already very strongly represented and we are looking forward to working closely together."
After German sportswear giants Adidas invested in the Munich club in 2002 for € 77 million, the deal makes Audi Bayern's second main investor.
AFP (news@thelocal.de)
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