With the coronavirus forcing the Bundesliga to grind to a halt, it may seem like a strange time for a club to announce a new stadium-naming sponsor. That's just what Eintracht Frankfurt and Deutsche Bank have done.
In statements posted on both companies websites on Wednesday, Deutsche Bank and Eintracht Frankfurt announced that the Frankfurt-based lender was set to become the Bundesliga club's new main sponsor.
With Commerzbank's naming rights contract for Eintracht's Waldstadion set to run out at the end of the season, the bank's yellow logo is to be removed from the stadium roof this summer and replaced with blue lettering reading: "Deutsche Bank Park."
In its statement, Eintracht Frankfurt thanked Commerzbank for is support since becoming the official name sponsor of the football stadium in 2005.
Neither Deutsche nor Eintracht has disclosed any monetary figures, but according to the mass-circulation daily Bild, the bank is to pay around €5.5 million ($6 million) annually for the naming rights to the Waldstadion. In recent years, Commerzbank had been playing about €3.5 million, according to the Bild report.
The Deutsche statements said the partnership, which is to run for at least seven years, is to be about more than just sports sponsorship. The plan is to develop new digital business models and products "that go far beyond the current fan experience in the stadium."
pfd (dpa, Reuters)