German soccer giants Bayern Munich are set to sue car manufacturer BMW after sponsorship negotiations between the two parties broke down earlier this year, according to the Frankfurter Allgemeine Zeitung (FAZ).
The German newspaper reports that the Bundesliga champions are seeking damages of between €10 million (US$11.2 million) and €20 million (US$22.5 million) over an alleged ‘breach of trust’ committed by the German carmaker.
Bayern president Uli Hoeness revealed in March that the club had signed a memorandum of understanding (MoU) with BMW to enter into a ten-year, €800 million (US$893 million) strategic partnership by 2025. The deal would have ended Bayern’s longstanding partnership with Audi and seen BMW take on its domestic rival’s 8.33 per cent stake in the club.
However, it then emerged in May that Bayern were set to continue their partnership with Audi after BMW pulled out of a deal to become the club’s new automotive partner.
According to FAZ, talks between Bayern and BMW broke down when BMW suddenly made an ‘unachievable’ demand. It is not clear what that demand was, but FAZ speculates that BMW may have requested that Bayern prematurely terminate their contract with Audi, rather than wait for the deal to expire in 2025.
Bayern’s new deal with Audi has not yet been officially confirmed, but an earlier report from FAZ claimed that the car manufacturer has offered the club improved terms of €60 million (US$67 million) per year, with other elements of a proposed new contract ensuring that the club would stand to make more than €1 billion (US$1.1 billion) over a 12-year period.
Neither Bayern nor BMW responded to FAZ's request for comment.
German soccer giants Bayern Munich are set to sue car manufacturer BMW after sponsorship negotiations between the two parties broke down earlier this year, according to the Frankfurter Allgemeine Zeitung (FAZ).
The German newspaper reports that the Bundesliga champions are seeking damages of between €10 million (US$11.2 million) and €20 million (US$22.5 million) over an alleged ‘breach of trust’ committed by the German carmaker.
Bayern president Uli Hoeness revealed in March that the club had signed a memorandum of understanding (MoU) with BMW to enter into a ten-year, €800 million (US$893 million) strategic partnership by 2025. The deal would have ended Bayern’s longstanding partnership with Audi and seen BMW take on its domestic rival’s 8.33 per cent stake in the club.
However, it then emerged in May that Bayern were set to continue their partnership with Audi after BMW pulled out of a deal to become the club’s new automotive partner.
According to FAZ, talks between Bayern and BMW broke down when BMW suddenly made an ‘unachievable’ demand. It is not clear what that demand was, but FAZ speculates that BMW may have requested that Bayern prematurely terminate their contract with Audi, rather than wait for the deal to expire in 2025.
Bayern’s new deal with Audi has not yet been officially confirmed, but an earlier report from FAZ claimed that the car manufacturer has offered the club improved terms of €60 million (US$67 million) per year, with other elements of a proposed new contract ensuring that the club would stand to make more than €1 billion (US$1.1 billion) over a 12-year period.
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