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Soccer club Stuttgart agrees on deal that’s potentially worth $110 million with Porsche Group
STUTTGART, Germany (AP) — Bundesliga club Stuttgart has mainly agreed on a sponsorship deal with local car manufacturer Porsche and consultancy firm MHP that it says could yield more than 100 million euros ($110 million).
Mercedes-Benz will remain Stuttgart’s main sponsor, though it is giving up naming rights to the club stadium, Stuttgart said on Tuesday.
MHP, a management and IT consultancy company belonging to the Porsche Group, will take over the stadium name for an initial 10-year period, the club said.
“The planned cooperation with Porsche, MHP and Mercedes-Benz promises to strengthen the club and the company behind it in the long run,” Stuttgart president Claus Vogt said. “This is where the Champions League of investors are coming together under one roof.”
Stuttgart narrowly avoided relegation last season, thanks only to a playoff win over second-division club Hamburger SV.
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AP soccer: https://apnews.com/hub/soccer and https://twitter.com/AP_Sports
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