Allianz will buy the stake for 110 million euros ($150 million) via a capital increase, the Munich-based insurer said in a statement on its website yesterday. The club’s other shareholders, Adidas AG (ADS) and Volkswagen AG (VOW)’s Audi unit, will each have their shareholdings reduced to 8.33 percent, FC Bayern said in a separate statement.
Allianz has been partnering with FC Bayern since 2000. It became the sponsor of the club’s stadium in Munich when it opened in 2005, naming the iconic building with a capacity of more than 70,000 the Allianz Arena. The company also owns naming rights for stadiums in London, Nice, Sydney and Sao Paulo.
FC Bayern plans to use the proceeds to repay remaining debt related to the building of the stadium in Munich and to build a new youth and junior soccer center in Munich.
“With the three Bavarian companies Allianz, Adidas and Audi, FC Bayern forms a Triple-A with its partners,” President Uli Hoeness said in the statement. “It is a dream -- we are very proud, it shows the strength of this club.”
While investors could own as much as 30 percent of the company in total, FC Bayern has no plans at the moment to add any more, Chief Financial Officer Jan-Christian Dreesen, who joined from Munich-based bank Bayerische Landesbank last year, said in an interview on the club’s website.
FC Bayern, led by Chief Executive Officer Karl-Heinz Rummenigge, won last season’s elite European club competition as well as a 23rd domestic league title. In terms of combined revenue, Bayern is surpassed only by Real Madrid, Barcelona and Manchester United; clubs that get more in sales from international broadcasting rights.
Before the capital increase was agreed, Adidas and Audi each owned 9.1 percent of the club.
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