German insurance company Barmenia Versicherungen has agreed a deal to become the new main sponsor of the country’s Bundesliga football club Bayer Leverkusen.
The two parties have agreed a four-year deal, which will cover the 2016-17 to 2019-20 seasons. Financial terms of the agreement were not disclosed, although the Rheinische Post newspaper claimed the deal would be worth around €7.5m ($8.5m) per year.
Barmenia director Frank Lamsfuß said: “(The deal is an) expression of our high and particular aspirations. Joining forces with a top German club and (Uefa) Champions League participant demonstrates the clear determination and ambition to assume a leading position not just in our own area of activities.”
As part of the deal, Barmenia’s branding will be displayed on the front of Leverkusen’s playing jerseys. The Wuppertal-based company will replace LG as the club’s main and shirt sponsor when the Korean electronics giant's three-year deal expires on June 30.