The German football club Bayern Munich has solidified its presence in the crypto space by sealing a multi-year partnership with Austrian cryptocurrency company Bitpanda. The deal, effective immediately, designates Bitpanda as the new platinum partner and official crypto trading sponsor of the reigning German champions.
Bayern Munich and Bitpanda Forge Crypto Partnership
The collaboration was officially unveiled at Bayern's home ground, the Allianz Arena, during their match against TSG Hoffenheim on January 12. Bitpanda will be a prominent presence at all home matches throughout the duration of this partnership.
Bitpanda's Chief Executive, Eric Demuth, emphasized the shared values and winning mentality that unite the football giants and the crypto platform, laying the groundwork for a long-term and fruitful partnership. Demuth stated: “Bayern Munich and Bitpanda are united by a strong winning mentality and the expectation of themselves to get better every day. For us, these shared values are the perfect basis for a long-term partnership."
Bitpanda's foray into sports sponsorships has seen similar successful deals with the Italian Rugby Federation in 2023, covering the men’s Rugby World Cup, a sponsorship deal with tennis’ Madrid Open in 2022, and a premium sponsorship of the World Padel Tour in the same year.
Bitpanda is the official crypto partner of FC Bayern MunichIt’s a remarkable day for us at Bitpanda, as we announce ourselves as the exclusive crypto partner of a club and community we deeply respect and share the values of - FC Bayern Munich. We share a common philosophy: a… pic.twitter.com/bFWgoP2wMc
— Bitpanda (@Bitpanda_global) January 12, 2024
Ideal Partnership as Bayern's Finances Soar
Jan-Christian Dreesen, the Chief Executive of Bayern Munich, expressed his enthusiasm for the collaboration: "Like FC Bayern, Bitpanda is the market leader in its field. We want to achieve our goals together in the future." This sentiment was echoed by Andreas Jung, Bayern's Chief Marketing Officer, who emphasized the synergy between the two brands.
While Bayern embraces a new era of crypto sponsorship, the club has celebrated financial success. The 2022-23 financial year saw Bayern Munich posting record revenue, totaling €854.2 million, along with a remarkable year-on-year increase in profit. Earnings before taxes more than tripled, soaring from €17.1 million to €54.5 million.
Lukas Enzersberger-Konrad, the Deputy Chief Executive of Bitpanda, emphasized the fitting nature of the partnership: "Bayern Munich are record champions. Bitpanda is the market leader in Europe. Both together in a partnership: That’s a good fit!”
This article was written by Tareq Sikder at www.financemagnates.com.
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