April 1 – Bundesliga club Eintracht Frankfurt is changing the name of its stadium sponsor, swapping banks from Commerzbank to Deutsche Bank in what the club describes as a “long-term Premium Partnership”.
The seven-year deal will run until end June 2027 with Deutsche bank having an option to extend. The stadium will be renamed ‘Deutsche Bank Park’. No value was given for the deal.
A club press release said that the deal was much more than just a naming rights sponsorship but a wider embracing of new marketing opportunities.
“It is also about jointly developing new digital business models and products that play a far greater role in the daily lives of people than the current stadium experience does,” said the release.
Commerzbank has been a partner of Eintracht Frankfurt for 15 years.
Deutsche Bank, like Commerzbank, is based in Frankfurt. Last year the two banks dropped merger talks. Deutsche has been undergoing a strategic overhaul and years of losses, that has seen it reduce its global footprint to focus on its European and German markets.
More detail of the partnership with the club will be announced at a later date. “Due to the current coronavirus crisis, Eintracht Frankfurt and Deutsche Bank will jointly provide more extensive information on the cornerstones of the partnership and the concept of the Deutsche Bank Park at a later date,” said the club press release.
Contact the writer of this story at email@example.com