Red Bull adds to soccer portfolio by buying minority stake in English club Leeds
The club announced on Thursday a “multi-year agreement” with Red Bull, whose other soccer interests include owning Leipzig in Germany and having a longstanding association with Salzburg in Austria.
)
06:16 PM IST
Red Bull has bought a minority stake in English soccer club Leeds United in a deal that will also see the energy drink company become the team's shirt sponsor next season.
The club announced on Thursday a “multi-year agreement” with Red Bull, whose other soccer interests include owning Leipzig in Germany and having a longstanding association with Salzburg in Austria.
Leeds missed out on a return to the Premier League for next season by losing to Southampton in the second-tier Championship playoff final on Sunday.
“The ambition to bring Leeds back to the Premier League and establish themselves in the best football league in the world fits very well with Red Bull,” said Oliver Mintzlaff, CEO of Red Bull corporate projects and investments.
“We look forward to the partnership and are optimistic and energized about the future.” The club said the deal “brings in new commercial revenues as well as additional capital investment for a minority ownership stake that will further enable the club to compete on and off the pitch as the club seek promotion next season.” The name and logo of the club will remain unchanged, said Leeds, whose US ownership includes two major-winning golfers -- Justin Thomas and Jordan Spieth.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
)
)
)
)
)
)
)
)
)
