BMW is set to replace rival car manufacturer Audi as a main sponsor of German Bundesliga football club Bayern Munich, according to Manager magazine.
As part of a 10-year deal worth a total of €800m ($898m), BMW will acquire Audi’s 8.33-per-cent stake in the club’s holding company, the report said.
Manager said that the change in sponsorship will happen before 2025, bringing to an end Bayern’s partnership with Audi, stretching back to 2002.
“Both parties signed a declaration of intent last year,” Edmund Stoiber, a prominent member of the club’s supervisory board, told the magazine. A source close to BMW also confirmed the agreement in principle, although the car manufacturer refused to comment publicly.
Audi is one of Bayern’s four main sponsors, alongside adidas, Allianz and Deutsche Telekom. The main sponsors all hold stakes in Bayern’s holding company, the report added.