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Allianz buys stake in Bayern Munich

Goal.com
Bayern Munich has announced that Allianz has acquired an 8.33 percent stake in the club.

Allianz, which already holds the naming rights to the Bundesliga outfit's stadium, has invested 110 million euros in the reigning European champion, thus becoming the third Bavarian company after Adidas and Audi to agree such a deal.

"Today is a big day for FC Bayern," said Bayern president Uli Hoeness. "The club’s executive committee and advisory committee approved this decision unanimously.

"With the three Bavarian companies Allianz, Adidas and Audi, FC Bayern has a Triple-A of partners. It is a dream and we are very proud, because it shows the strength of this club."

Bayern has also revealed that the €110 million gained from the deal will be spent on the club's remaining obligations on the Allianz Arena, thereby making the stadium debt free, and on the planned reconstruction of the Bayern youth facility in Munich.

Following the Allianz deal, 75 percent of Bayern's stock remains in the hands of the club's members, more than fulfilling the obligations of all Bundesliga clubs to have at least 50 percent plus one share under the ownership of fans.

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