March 31 – Schalke 04 and Russian energy giant Gazprom have extended their long running shirt sponsorship agreement, the German club announced on Tuesday.
The club from Gelsenkirchen have endured a torrid season, having fired and hired numerous coaches in a fruitless bid to shed their status as red lantern, isolated at the bottom of the Bundesliga table, but despite this long-time sponsor Gazprom has recommitted to Schalke 04, with the club stating that “after many years of a close, fruitful partnership, the energy company has decided to stick by the Gelsenkirchen club in a show of solidarity and support in these difficult times.”
The new three-season deal however comes with the caveat of Gazprom reserving “the right to cancel the deal in the event of failing to achieve our sporting goals and the likely resulting relegation to the 2. Bundesliga.”
German magazine Kicker reported that the deal is worth €10 million a year in the second tier of the German game, but would be increased to €30 million in case of promotion to the Bundesliga.
“With this extension, which is made irrespective of league, Gazprom is making a strong statement of loyalty and solidarity, thus contributing to the economic stability of the club,” explained chairman of the board at Nord Stream 2 AG and member of the FC Schalke 04 supervisory board Matthias Warnig.
Gazprom first began sponsoring Schalke 04 in 2007. The energy company from Russia is also a top-tier sponsor of the Champions League.
Contact the writer of this story, Samindra Kunti, at moc.l1618617913labto1618617913ofdlr1618617913owedi1618617913sni@o1618617913fni1618617913