Evonik Spends Annual EU10 Million on Borussia Dortmund, FAZ Says
Evonik Industries AG extended its sponsorship of the Borussia Dortmund (BVB) soccer team by three years at a cost of more than 10 million euros ($13 million) annually, Frankfurter Allgemeine Zeitung said, citing Evonik Chief Executive Officer Klaus Engel.
The club, which is receiving more money from Evonik than from the prior contract, will also get a “success bonus” should it win the German cup or take part in European competitions, the Frankfurt-based newspaper said.
Sponsorship of the soccer team is resulting in better recognition for the Essen-based chemicals maker, even in Asia, Engel said, according to FAZ.
To contact the reporter on this story: Sheenagh Matthews in Frankfurt at smatthews6@bloomberg.net
To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net
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