BERLIN: Bayern Munich confirmed Tuesday that Qatar Airways will replace Lufthansa as one of their sponsors, expanding the German club’s business links with the tiny Gulf state.
Qatar Airways have signed a five-year deal as ‘platinum partners’, the level below Bayern’s main sponsors Adidas, Telekom, Audi and Allianz.
The Qatar Airways logo will now appear on the shirt sleeves of the runaway German league leaders.
Bayern’s marketing director Andreas Jung told Frankfurt-based newspaper FAZ that such a partnership “will help us to become more international.”
Qatar Airways have taken over the current sponsorship deal, from August 2017, of Doha’s Hamad International Airport, to sponsor Bayern’s shirt sleeves.
According to FAZ, the new sponsorship deal will earn Bayern more than the 10 million euros ($12.3m) they received annually from Hamad International Airport.
The move will raise eyebrows in Bavaria with German airline Lufthansa now dropped.
Their ties to World Cup 2022 hosts Qatar have seen Bayern repeatedly criticized.
Bayern spent their winter break in Qatar, which organizes a training camp every January for the German champions.
Qatar Airways replaces Lufthansa as Bayern Munich sponsor
Qatar Airways replaces Lufthansa as Bayern Munich sponsor
Closing Bell: Saudi main index climbs to 10,485
RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Sunday, gaining 34.32 points, or 0.33 percent, to close at 10,484.59.
The total trading turnover of the benchmark index stood at SR2.59 billion ($690 million), with 168 listed stocks advancing and 87 declining.
The Kingdom’s parallel market Nomu also gained 100.37 points to close at 23,454.65.
The MSCI Tadawul Index advanced by 0.13 points to 1,377.44.
The best-performing stock on the main market was Nama Chemicals Co., whose share price increased by 9.98 percent to SR22.38.
The share price of Al Masar Al Shamil Education Co. rose by 9.15 percent to SR23.85.
Saudi Paper Manufacturing Co. also saw its stock price climb by 8.42 percent to SR57.95.
Conversely, the share price of Canadian Medical Center Co. dropped by 6.37 percent to SR6.03.
The stock price of Kingdom Holding Co. also declined by 3.16 percent to SR8.28.
In the parallel market, Alfakhera for Mens Tailoring Co. was the top performer, with its share price advancing by 16.40 percent to SR8.80.
On the announcements front, Theeb Rent a Car Co. said it had signed a long-term vehicle leasing services contract valued at SR110.4 million with Hungerstation Co.
Under the deal, Theeb will lease 2,000 vehicles to HungerStation for a period of four years starting from 2026, according to a Tadawul statement.
The statement added that the vehicles will be delivered in batches within the first six months from the contract start date, taking into consideration global logistical circumstances and procedures beyond the control of both the agents and the company.
The contract is expected to have a positive impact on the company’s financials from the first quarter of 2026.
The share price of Theeb Rent a Car Co. declined by 0.79 percent to SR37.80.
