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Audi sign 90 million euro deal with Bayern

Car manufacturer Audi have bought a 9.09 percent stake in German football giants Bayern Munich in a deal worth 90 million euros (135.2m US dollars), the Bundesliga club announced on Thursday.

The ten-year deal pushes Bayern’s reported annual earnings through the 200 million euros mark.

The money will help towards repaying part of the 340 million euros debt for the Allianz Arena stadium which they share with second-division side 1860 Munich.

“I am sure that this partnership will open up many new global possibilities for us,” said Bayern’s chairman Karl-Heinz Rummenigge.

“I think it will help in the Asian market where Audi are already very strongly represented and we are looking forward to working closely together.”

After German sportswear giants Adidas invested in the Munich club in 2002 for 77 million euros, the deal would make Audi Bayern’s second main investor.

BERLIN (AFP)

Tags: 1860 munich, 2m, allianz, allianz arena stadium, asian market, Bayern, bayern munich, berlin, car manufacturer, earnings, euro deal, german football, giants, global possibilities, investor, karl heinz, money, Munich, partnership, percent stake, sportswear

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Fans blast Newcastle stadium name-change

Newcastle fans reacted with scorn Thursday after it emerged that the club’s St. James’ Park stadium is to be rebranded with the name of a dotcom sponsor.

The Magpies’ home is to be renamed as sportsdirect.com@St James’ Park until the end of this season, to plug the sportswear firm of controversial club owner Mike Ashley.

Some 16,000 people have signed an online petition protesting at the name change, while local MP David Clelland has tabled a parliamentary motion urging the club’s owners to reconsider.

“The idea of turning the history of St James’ Park into something that resembles an email address absolutely beggars belief,” said Mark Jensen, editor of The Mag fanzine, which described the move as “cheap and nasty.”

Club managing director Derek Llambias admitted the name change had been badly handled.

“We could have worded it better,” he told BBC radio, while defending the decision which could see the stadium changed to another name if an outside sponsor is found.

“If it brings in a good chunk of money to the club that goes straight to the team, it’s a revenue that we should look at,” he said.

“Newcastle United’s history is just incredible … people have to look at maximising their revenues. That’s one part of a stadium that you can use that is under-utilised.”

NEWCASTLE (AFP)

Tags: AFP, bbc, beggars belief, chunk, clelland, club owner, Derek Llambias, fanzine, james park, magpies, managing director, mark jensen, mike ashley, mp, MP David Clelland, NEWCASTLE, newcastle fans, newcastle united, online petition, parliamentary motion, scorn, sportswear, St James, st james park

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Car giants Audi set to buy share of Bayern: report

German car manufacturer Audi could be set to buy 10 percent of Germany’s most famous football club Bayern Munich at a cost of almost 100 million euros, according to Saturday’s edition of Bild.

The German tabloid claims the deal could be completed next month and would allow Bayern to reduce the debt they owe for the construction of their Allianz Arena stadium in Munich which opened in 2005.

“I won’t name names, but we are in a very good negotiations with a company,” said Bayern team manager Uli Hoeness.

“This is one for the finance department, it could be a good autumn for Bayern.”

Audi spokeswoman Iris Altig insists the news is still just “speculation” but admitted “there are on going considerations on how a close partnership could be encouraged”.

Bild state the deal is expected to be finalised in October and announced in time for the club’s annual general meeting in November.

Audi already sponsor Bayern and provide the Munich players with cars.

Bayern Munich have won 21 domestic league titles, are reported to be worth 295.3 million euros and German sportswear giants Adidas have already held a 10 percent share in the football club since 2002.

BERLIN (AFP)

Tags: 100 million, allianz, allianz arena stadium, altig, annual general meeting, Bayern, bayern munich, berlin, car giants, finalised, finance department, football club, german car manufacturer, Germany, iris, Iris Altig, league titles, Munich, negotiations, speculation, spokeswoman, sportswear, uli hoeness

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Audi ´set to buy share of FC Bayern´

German car manufacturer Audi could be set to buy 10 percent of prestigious football club Bayern Munich at a cost of almost 100 million euros, according to Saturday’s edition of Bild.

The German tabloid claims the deal could be completed next month and would allow Bayern to reduce the debt they owe for the construction of their Allianz Arena stadium in Munich which opened in 2005.

Audi spokeswoman Iris Altig insists the news is still just “speculation” but admitted “there are on going considerations on how a close partnership could be encouraged”.

Bild state the deal is expected to be finalised in October and announced in time for the club’s annual general meeting in November.

Audi already sponsor Bayern and provide the Munich players with cars.

Bayern Munich have won 21 domestic league titles, are reported to be worth 295.3 million euros and German sportswear giants Adidas have already held a 10 percent shars in the football club since 2002.

BERLIN (AFP)

Tags: 100 million, adidas, allianz, allianz arena stadium, altig, annual general meeting, Arena, Bayern, bayern munich, berlin, cars, finalised, football club, german car manufacturer, giants, iris, Iris Altig, league titles, Munich, partnership, shars, speculation, spokeswoman, sportswear

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Newcastle look to the future after the drop

LONDON (AFP) – Newcastle owner Mike Ashley is to have meetings with Alan Shearer this week to work out the way forward for the club following their relegation from the Premier League.

The northeast giants were sent crashing down into the Championship after losing 1-0 at Aston Villa on Sunday on the final day of the season.

It was an end to 16 straight years in the top flight and it left the beleagured Ashley with big decisions to make.

Relegation could cost the club anywhere between 30million and 60million pounds with the sportswear tycoon’s total investment of around 250million pounds over the last two years counting for little.

Shearer, who took over as temporary manager late into the season in a final bid to avoid the drop, admitted that huge mistakes had been made and that massive changes were required very quickly.

Managing director Derek Llambias told the club’s official website, www.nufc.co.uk: “Being relegated from the Premier League is a huge disappointment for everyone involved with Newcastle United.

“We are all hurting and I feel desperately sorry for everyone associated with Newcastle United; for Mike, who has invested heavily in the club, and for all the supporters who have given the team magnificent backing up and down the country all season long.

“Mike and I will sit down with Alan this week to discuss how the club moves forward again, and I hope to be able to say more to our supporters later this week.”

One of the first issues to be resolved will be Shearer’s continued presence or otherwise at St James’ Park after his eight-game reign drew to a close on a dismal note.

Tags: 60million, alan shearer, beleagured, Derek Llambias, disappointment, drop, English Premier League, giants, investment, james park, london, look to the future, managing director, massive changes, mike ashley, NEWCASTLE, newcastle united, nufc, Park, premier league, relegation, sportswear, St James, st james park, temporary manager, top flight, www

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