VfB Stuttgart: Porsche (car manufacturer) to become shareholder & acquire stadium naming rights

VfB Stuttgart (Bundesliga) is to expand its pool of partners to include German car manufacturer Porsche and its IT consultancy subsidiary Mieschke Hofmann und Partner (MHP). "The parties have agreed on a corresponding statement of principles," announced the German club on 27/06/2023.

The agreement covers two main points:
• the naming rights to the stadium, currently held by another German car manufacturer, Mercedes-Benz (for €900,000 per season, under an agreement initially covering the 2008-2038 cycle);
• the acquisition of a minority stake in the club alongside the existing shareholders (Mercedes-Benz and equipment manufacturer Jako), in order to "significantly strengthen VfB Stuttgart's equity and liquidity."

As part of the agreement, the naming rights to the stadium will be held by MHP for an initial period of 10 years. A declaration of intent to this effect has been signed and the necessary contracts must now be drawn up and finalised, according to the German club, whose stadium will be known as the "MHPArena". The total value of this sponsorship package (Mercedes-Benz…