German automobile giants BMW is reportedly engaged in talks with German soccer giant FC Bayern Munich in order to acquire rival luxury car brand Audi’s stake in the club. The German carmaker is planning to enter into a ten-year strategic partnership with the estimated cost going upto €800 million.
According to reports in Sportspromedia, Bayern board member Edmund Stoiber also confirmed the discussions, telling Manager Magazin: “Both sides have already signed a memorandum of understanding last year.”
If the deal does go through, then BMW will become 8.33 per cent stakeholder in the German club. Currently, the Bayern Munich principal ownership retains 75 per cent stake in the club while another 16.67 per cent is shared by financial services giant Allianz and German kit-maker Adidas.
The report in sportspromedia also mentions that with this deal BMW will get sponsorship rights till 2025. Bayern is believed to be in talks with Audi to terminate their contract earlier than planned with the car maker having an association with the club as shareholders for the past eight years.
Apart from becoming a strategic partner of Bayern Munich, BMW will also replace Audi as an official sponsor of the club. Reports also say that Bavaria-based brand (BMW) will double the amount Audi is currently paying, with a €40-million-per-year deal.