Global

Audi Ponies Up

5.20.2019

Audi renewed its car sponsorship of Bayern Munich in a deal "adding up to" more than $1B over a 12-year period after BMW said that it "dropped plans" to sponsor the club. News of a potential BMW deal "falling through" came shortly before Bayern secured its seventh successive Bundesliga title on Saturday. Bayern Munich CEO Uli Hoeness said in March that the club signed a MOU with BMW for the carmaker to sponsor its soccer and basketball teams. BMW reported a 74.2% slump in profits to $657M in the first quarter of '19 (AFP, 5/18). Before the deal fell through, BMW was "poised to take over" Audi's 8.33% ownership stake in the club as well as the sponsorship contract. Audi's branding does not appear on Bayern's shirt (BAVARIAN FOOTBALL WORKS, 5/18).

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