A significant benefactor provides the DFB with vital financial assistance.
The German Football Association (DFB) has been anticipating a victory for their most significant team for quite some time, and this delay is starting to show financially. However, there's some good news before their home European Championships: Volkswagen (VW) is extending its agreement as the general sponsor.
Based on reports from the German Press Agency, Volkswagen will keep its position as the general sponsor of the DFB. This current contract will end this year, so an extension is set to be announced at a meeting on Wednesday evening in Berlin. Coach Julian Nagelsmann will then reveal his European Championship squad at the same location in the center of the city on Thursday. VW and the DFB have not confirmed this agreement officially yet. The details of the new deal are still being discussed.
For the DFB, the continuation of their partnership with their crucial financial supporter before the home European Championship is yet another financial success. Previously, the switch from long-term provider Adidas to Nike, starting in 2027, was announced. Although this move sparked some controversy in high government circles, it is said to generate the DFB a high double-digit million increase in earnings.
Recently, the association decided to sell the old headquarters to acquire additional funds. "The proceeds give the DFB the chance to repay the loan for the DFB campus," said treasurer Stephan Grunwald. The construction of the new headquarters cost around €180 million, which is €30 million more than initially planned. The financial status was stressed by the German team's lack of success in the 2018 and 2022 World Cups, the campus project, and taxes amounting to over €51 million due to the loss of non-profit status from 2006, 2014, and 2015.
DFB President visits Thailand, hoping for the Women's World Cup 2027 bid
With recent positive economic news, the DFB management, led by President Bernd Neuendorf, continue their momentum. In addition to Nike, the association has also signed cooperation agreements with social media platform TikTok and financial services provider Klarna.
Volkswagen replaced Mercedes-Benz as the general sponsor in 2019. The contract began in 2017, before the German national team's sporting crisis with disappointing results in the 2018 and 2022 World Cups and their European Championship. Neither party divulged information about the conditions of the contract at the time. Reports suggest that €25 to €30 million were exchanged annually. During the crisis, a contract extension, possibly on different terms, has been under negotiation.
The DFB will be represented by Völler and CEO Andreas Rettig at the Wednesday meeting with VW's senior management, led by CEO Oliver Blume. President Neuendorf will later fly to Thailand for the FIFA Congress. In Bangkok, the DFB hopes to win the bid to host the Women's World Cup 2027 alongside Belgium and the Netherlands. However, Brazil is the current favorite to host the event.
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- Despite the financial strain caused by the German team's recent World Cup performances and other financial obligations, the DFB has secured a sponsorship extension with Volkswagen, one of the major German car manufacturers, ensuring financial stability for the upcoming European Championships.
- In the world of soccer, Germany's national team has been supported financially by various partners like Nike, TikTok, and Klarna, but it's worth noting that Volkswagen, a prominent car manufacturer, took over as the general sponsor from Mercedes-Benz in 2019, providing the DFB with significant backing.
- As Volkswagen (VW) continues its long-term partnership as the DFB's general sponsor, German carmakers such as VW continue to show a strong commitment to supporting the nation's soccer, from sponsoring the men's team during their sporting crises to backing the bid for the Women's World Cup 2027 in Thailand.
Source: www.ntv.de
