German insurance company Allianz purchased an 8.33 percent stake in Bayern Munich, giving the German champion a valuation of $1.32 billion euros
The deal will help the club pay off debts on its stadium and to pay for the construction of a youth academy. Allianz will have the option to extend its naming rights for
the club's Munich stadium until 2041. Jan-Christian Dreesen
, chairman of Bayern Munich's finance committee, said the club has "once again set in
place the basis of a solid, financially secure future for the club."
Allianz becomes the third minority shareholder in FC Bayern along with Adidas and car maker Audi. All three
Bavarian-based companies hold 1/12 interests. The main shareholder remains the club member association that controls 75 percent of the stock.