Audi sees off BMW in Bayern Munich sponsorship race
Audi overtakes BMW in Bayern Munich sponsorship race
Germany’s top football team had been subject to a bidding war between the automotive giants, with BMW initially in the driving seat to secure a high-profile sponsor role for both the football and basketball teams.
That putative deal fell apart however just as Bayern secured their seventh straight title win after Audi boss Bram Schot, who offered the club a package it could not refuse in order to remain as sponsor through to 2025.
BMW faced a bill of as much as a billion euros over 12 years to wrest the trophy sponsorship from Audi’s grasp, a bill which ultimately it could not justify amid sliding profits.
A chastened BMW has had to set aside 1.4bn euros to cover potential fines relating to its participation in a cartel and must also allocate resources to the development of driverless and electric cars – all at the same time as it weathers a 74.2% slump in profits over the first quarter.
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