Deutsche Telekom Invests More Than $56M Annually In Sports Sponsorships

German telecom firm Deutsche Telekom is spending more than €50M ($56M) annually "on sports sponsorships," according to Peter Bock of SPONSORs. Deutsche Telekom Private Customers Managing Dir Michael Hagspihl confirmed the number. The majority of it goes toward its shirt sponsorship of Bayern Munich, which was extended until '23 on Thursday. The previous deal with Bayern had an estimated value of €30M ($33M) per year. The renewal is expected to include an increase on that amount. The rest of its sponsorship budget goes to the German Football Federation (DFL) as a partner of its men and youth teams, the German National Paralympic Committee (DBS-NPC) and the Deutsche Sporthilfe. It also has partnerships with Bundesliga sides Borussia Dortmund, FC Schalke and Hamburg SV. At its HQ in Bonn, Germany, Deutsche Telekom is supporting Basketball Bundesliga (BBL) side Telekom Baskets Bonn as well as the city's marathon (SPONSORs, 8/14).