Financial services company Mercedes-Benz Bank has extended its shirt sponsorship deal with VfB Stuttgart, despite the German Bundesliga football club facing the prospect of relegation from the country’s top division.
The Stuttgart-headquartered company’s branding will appear on the front of the club’s playing jerseys until the end of the 2018-19 season under the new deal. Mercedes-Benz Bank, which is a subsidiary of German automotive corporation Daimler, will also sponsor Stuttgart’s youth teams from the start of the 2016-17 season.
Financial terms of the agreement were not disclosed, although the Stuttgarter Nachrichten newspaper suggested the deal would be worth €8-9m ($9.1m-10.2m) per year.
Stuttgart will be relegated from the Bundesliga if it fails to beat VfL Wolfsburg on Saturday.
"As a Stuttgart-based business, we are closely connected to the city and the region," Dieter Zetsche, chairman of the board and director of Mercedes-Benz Cars at Daimler, said. "That naturally applies to VfB. We are loyal to VfB Stuttgart and are keeping our fingers crossed for them in the final game."