Deutsche Bank is reportedly in talks with German football club Eintracht to extend their business partnership.
“We are talking to Eintracht about extending our business partnership,” an anonymous source familiar with the development told Reuters.
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Presently, the German banking giant engages with Eintracht for events at the stadium on a payment system.
The negotiations between the bank and the football club involved sponsorship, naming rights and regional engagement, the source added.
In case the talks materialise, Deutsche Bank will replace rival Commerzbank as the sponsor of Eintracht.
For over a decade, Commerzbank name and logo have been displayed at Eintracht’s home stadium.
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By GlobalDataEintracht, which was founded in 1899, is currently playing in the top tier of the German football league system Bundesliga.
It has won one German championship, five DFB-Pokals and one UEFA Cup.
Since 1925, the club’s stadium has been the Waldstadion, which was renamed Commerzbank-Arena in 2005.
The news comes almost a year after the merger talks between Deutsche Bank and Commerzbank collapsed.
Sports sponsorship deal:
Last week, UK digital challenger Starling was named as the official banking partner of Team GB for the upcoming Tokyo Olympics.
The partnership came amidst the news that Japan may postpone the Olympics games as coronavirus cases surge.
The Tokyo Olympics are scheduled to be conducted in July this year.
Last month, British banking major HSBC decided to terminate multi-million-pound sponsorship deal with British Cycling by the end of this year.
Recently, CIMB signed a sponsorship deal with Malaysian Football League as Title Sponsor of the Liga Super Malaysia.
