FC Nuremberg Signs Stadium Naming-Rights Deal With Electronics Company Grundig

Bundesliga club FC Nuremberg's search for a new stadium naming-rights sponsor "has finally come to an end with the introduction of electronic company Grundig," according to the BAYERISCHER RUNDFUNK. The football stadium in Nuremberg "will be renamed Grundig-Stadium." City Mayor & Club Chair Ulrich Maly said, "I'm very happy that this agreement with Grundig has been reached. The naming-rights sponsorship is an important part of financing our last stadium renovation." The contract with Grundig "will take affect on July 1." The company will pay €800,000 ($1.1M) a year for the rights. The money "will be used to repay debt" from the stadium's '06 renovation, which cost €55M. The reason for the club's decision to go with Grundig as its new partner "is reportedly the company's regional root" (BAYERISCHER RUNDFUNK, 2/14).