(Bloomberg) -- BMW AG said it’s in talks with German soccer giant FC Bayern Munich AG about forming a strategic partnership.
“We are currently in talks with regard to a strategic partnership with FC Bayern,” BMW spokesman Mathias Schmidt said in a statement on Sunday. “It is too early to discuss any details, however the scale and sums of money being suggested by the media do not correspond with reality.”
BMW will buy Audi’s 8.33 percent stake in the club and sign a 10-year sponsorship agreement with the soccer team by 2025 at the latest, Manager Magazin reported on Thursday, citing FC Bayern Chairman Edmund Stoiber. BMW will pay a total of 800 million euros ($899 million) on the shares and sponsorship over the term of the contract, the magazine said, citing sources it didn’t identify.
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