German insurer Allianz has purchased 8.33% share in football club FC Bayern München by investing €110m, in sync with its marketing strategy to partner with sports.
The insurance provider has also secured the naming rights of the football club’s stadium in Munich, the Allianz Arena, until 2041. Allianz has been associated with the stadium since its opening in 2005.
FC Bayern München AG board member, responsible for finance, Jan-Christian Dreesen said, "Allianz has been a trusted partner of our club for a long time. Our partnership is exemplified by many things including the naming rights to the Allianz Arena since 2005."
The insurance company says that the Allianz Arena is its "single most successful marketing measure", with national and international brand awareness and good will created.
Allianz has signed similar arrangements with four other stadiums, Allianz Park in London, Allianz Riviera in Nice, Allianz Stadium in Sydney and Allianz Parque in São Paulo.
Allianz is the third partner of FC Bayern München. Adidas and Audi also hold 8.33% each in the club with the majority stake owned by FC Bayern München and its members.
The club plans to utilize the new capital for repaying debts taken to build the Arena, and to establish a facility for young players in Munich.
The insurance company is planning to offer tailor-made products for fans through the website of FC Bayern München.
Image: Allianz says the Allianz Arena stadium in Munich has been its "single most successful marketing measure". Photo courtesy of Patrick Huebgen.