Soccer membership Stuttgart agrees on deal that’s doubtlessly value $110 million with Porsche Group

STUTTGART, Germany (AP) – Bundesliga membership Stuttgart has primarily agreed on a sponsorship cope with native automobile producer Porsche and consultancy agency MHP that it says may yield greater than 100 million euros ($110 million).

Mercedes-Benz will stay Stuttgart’s primary sponsor, although it’s giving up naming rights to the membership stadium, Stuttgart stated on Tuesday.

MHP, a administration and IT consultancy firm belonging to the Porsche Group, will take over the stadium identify for an preliminary 10-year interval, the membership stated.

“The planned cooperation with Porsche, MHP and Mercedes-Benz promises to strengthen the club and the company behind it in the long run,” Stuttgart president Claus Vogt stated. “This is where the Champions League of investors are coming together under one roof.”

Stuttgart narrowly averted relegation final season, thanks solely to a playoff win over second-division membership Hamburger SV.

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