Adidas mulls raising German football sponsorship offer - report |
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Fri, 02 Feb 2007 10:03
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FRANKFURT (AFX) - Adidas AG does not rule our offering more money to remain a key sponsors of the German football association (DFB) , Financial Times Deutschland newspaper reported, citing the sporting goods maker's chief executive Herbert Hainer.'That could become a topic of discussion,' Hainer told the newspaper.Adidas, which has been a partner of the Deutscher Fussballbund (DFB) since the 1950s, pays the association 11 mln eur per year to be the official supplier to the German football team, the paper said.But US rival Nike Inc has offered to pay the DFB 50 mln eur annually plus one-off payments for an 8-year sponsorship contract starting in 2011, a sum that Hainer has dismissed as 'lunacy'.Adidas and the DFB are currently embroiled in a dispute over the length of their current sponsorship deal. Hainer insisted the German group has a contract until 2014, while the DFB said the deal will expire in 2011.newsdesk@afxnews.comjfb/lamCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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