European Premier Football September 1, 2014

European Soccer 2014/15 European Premier Football September 1, 2014

Sponsorship industry analysis report

September 2014 EUROPEAN PREMIER SOCCER CLUB

SPONSORSHIP 2014/1 5

International Marketing Reports Ltd 33 Chapel Street Buckfastleigh TQ11 0AB UK

Tel +44 (0) 1364 642224 [email protected] www.imrsponsorship.com

ISBN: 978-1-905685-31-8 eISBN: 978-1-905685-32-5

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, photocopying or otherwise, without the prior permission of the publisher and copyright owner. While every effort has been made to ensure accuracy of the information, advice and comment in this publication, the publisher cannot accept responsibility for any errors.

2 European Premier Football September 1, 2014

Sponsorship Today methodology

Sponsorship Today reports are created through the collection of data from news feeds, web searches, industry and news publications. Where sponsorship deals have not been reported, the Sponsorship Today team actively seeks data through web searches, annual financial reports and contacting sponsors, agencies and rights holders.

Most sponsorship deals are not reported and, of those that are, the majority do not provide accurate fee or duration data. IMR estimates unreported fee values through comparisons with similar deals, contacts with industry insiders and through its long experience of creating sponsorship analysis reports.

There is no guarantee of accuracy of estimates. The sponsorship industry is also known to overstate sponsorship fee values. Such reports are frequently based on the maximum potential value of a deal and might include the total should all incentive clauses (such as sporting success) be met and no morality clauses invoked. In such cases, rights holders rarely achieve their maximum values.

IMR also states all in-kind deals as an estimated cash value.

Estimated values listed in this report are marked in red, whereas reported values are marked in black.

European Premier Football September 1, 2014

CONTENTS

EXECUTIVE SUMMARY ...... 8 Soccer sponsorship – continued growth ...... 8 Market polarity ...... 8 Manchester United way out in front ...... 8 Sponsorship immaturity in Spain, Italy and France ...... 9 Sponsorship – making a competitive difference ...... 9 The future ...... 9

SOCCER CLUB SPONSORSHIP ANALYSIS – EUROPEAN OVERVIEW ...... 11 English Premier League now dominant ...... 11 Sponsorship change from 2012/13 – 38% rise overall ...... 12 European soccer sponsorship by club ...... 13 Manchester United take 11% of total ...... 13 Airlines and financial services - top soccer investors ...... 14 German companies lead in club investment ...... 18

ENGLAND – ENGLISH PREMIER LEAGUE ...... 20 Man Utd accounts for third of EPL sponsorship income ...... 20 English Premier League sponsorship by industry ...... 21 52 Countries invest in the English Premier League ...... 23

GERMANY – BUNDESLIGA ...... 38 Bundesliga - Europe’s most mature market? ...... 38 Bundesliga sponsorship by industry ...... 40

SPAIN – LA LIGA ...... 54 Big two dominate – can Atletico make up ground? ...... 54 La Liga sponsorship by industry ...... 56

ITALY – SERIE A ...... 67 Italian decline continues with no sign of major change ...... 67 Serie A sponsorship by industry ...... 69

FRANCE – LIGUE 1...... 84 French club sponsorship – a tale of one city? ...... 84 Ligue 1 sponsorship by industry ...... 86

NETHERLANDS – EREDIVISIE ...... 97 Professional approach – but lacking critical mass ...... 97 Eredivisie sponsorship by industry ...... 99

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TABLE OF CHARTS AND TABLES

Table 1. European soccer club sponsorship rights income by country by value ...... 11 Chart 1. European soccer club sponsorship rights income by country by % ...... 11 Table 2. European primary shirt sponsorship spend by country 2012/13 v 2014/15 ...... 12 Chart 2. European primary shirt sponsorship spend by country by share 2014/15 ...... 12 Table 3. European soccer club sponsorship by club ...... 13 Chart 3. European primary shirt sponsorship spend by country by share 2012/13 ...... 14 Table 4. European soccer club sponsorship spend by industry sector by value ...... 15 Chart 4. European soccer club sponsorship spend by industry sector by value ...... 16 Table 5. European soccer club sponsorship spend by industry sector by number of deals ...... 16 Chart 5. European soccer club sponsorship spend by industry sector by number of deals ...... 17 Table 6. European soccer club sponsorship spend by company ...... 17 Table 6b. European soccer club sponsorship spend by company ...... 18 Table 7. Major sources of European sponsorship spend by company HQ ...... 18

Table 8. English Premier League sponsorship revenue by club (€m) ...... 20 Table 9. English Premier League sponsorship revenue by type ...... 20 Chart 6. English Premier League sponsorship revenue by type (%) ...... 21 Table 10. English Premier League sponsorship revenue by industry ...... 21 Chart 7. English Premier League sponsorship revenue by industry by value ...... 22 Chart 8. English Premier League sponsorship revenue by industry by number of deals ...... 22 Table11. English Premier League major sponsorship spend by company ...... 23 Table 12a. English Premier League source of sponsorship spend by company HQ ...... 24 Table 12b. English Premier League source of sponsorship spend by company HQ ...... 25 Table 13b. English Premier League sponsors by club: Aston Villa / Burnley ...... 27 Table 13c. English Premier League sponsors by club: Chelsea / Crystal Palace ...... 28 Table 13d. English Premier League sponsors by club: Everton / Hull City ...... 29 Table 13e. English Premier League sponsors by club: Leicester City ...... 30 Table 13f. English Premier League sponsors by club: Liverpool ...... 31 Table 13g. English Premier League sponsors by club: Manchester City ...... 32 Table 13h. English Premier League sponsors by club: Manchester United ...... 33 Table 13i. English Premier League sponsors by club: Manchester United ...... 34 Table 13j. English Premier League sponsors by club: Newcastle United / QPR / Southampton ...... 35 Table 13k. English Premier League sponsors by club: Stoke City / Sunderland / Swansea City ...... 36 Table 13l. English Premier League sponsors by club: Tottenham / WBA / West Ham ...... 37

Table 14. German Bundesliga sponsorship revenue by club (€m) ...... 38 Table 15. German Bundesliga sponsorship revenue by type ...... 39 Chart 9. German Bundesliga sponsorship revenue by type (%)...... 39 Table 16. German Bundesliga sponsorship revenue by industry ...... 40 Chart 10. German Bundesliga sponsorship revenue by industry by value ...... 41 Chart 11. German Bundesliga sponsorship revenue by industry by number of deals ...... 41 Table 17. German Bundesliga major sponsorship spend by company ...... 42 Table 18. German Bundesliga source of sponsorship spend by company HQ ...... 43 Table 19a. German Bundesliga sponsors by club: Mainz / Hoffenheim / Leverkusen ...... 44 Table 19b. German Bundesliga sponsors by club: Bayern Munich ...... 45 Table 19c. German Bundesliga sponsors by club: Dortmund / Borussia Mönchengladbach ...... 46 Table 19d. German Bundesliga sponsors by club: Eintracht Frankfurt ...... 47 Table 19e. German Bundesliga sponsors by club: Augsburg / Köln ...... 48 Table 19f. German Bundesliga sponsors by club: Hamburger / Hannover 96 ...... 49

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Table 19g. German Bundesliga sponsors by club: Hertha / Freiburg / Paderborn ...... 50 Table 19h. German Bundesliga sponsors by club: Schalke / Stuttgart ...... 51 Table 19i. German Bundesliga sponsors by club: VFL Wolfsburg ...... 52 Table 19j. German Bundesliga sponsors by club: Werder Bremen ...... 53

Table 20. Spanish La Liga sponsorship revenue by club (€m) ...... 54 Table 21. Spanish La Liga sponsorship revenue by type ...... 55 Chart 12. Spanish La Liga sponsorship revenue by type (%) ...... 55 Table 22. Spanish La Liga sponsorship revenue by industry ...... 56 Chart 13. Spanish La Liga sponsorship revenue by industry by value ...... 56 Chart 14. Spanish La Liga sponsorship revenue by industry by number of deals...... 57 Table 23. Spanish La Liga major sponsorship spend by company ...... 57 Table 24. Spanish La Liga source of sponsorship spend by company HQ ...... 58 Table 25a. Spanish La Liga sponsors by club: Almeria / Bilbao / Atletico Madrid ...... 59 Table 25b. Spanish La Liga sponsors by club: Celta Vigo / Cordoba / Deportivo/ ...... 60 Table 25c. Spanish La Liga sponsors by club: Elche / Espanyol ...... 61 Table 25d. Spanish La Liga sponsors by club: Barcelona ...... 62 Table 25e. Spanish La Liga sponsors by club: Getafe / Granada ...... 63 Table 25f. Spanish La Liga sponsors by club: Levante / Malaga / Vallecano ...... 64 Table 25g. Spanish La Liga sponsors by club: Real Madrid / Real Sociedad ...... 65 Table 25h. Spanish La Liga sponsors by club: Eibar / Sevilla / Valencia / Villarreal ...... 66

Table 26. Italian Serie A sponsorship revenue by club (€m) ...... 67 Table 27. Italian Serie A sponsorship revenue by type ...... 68 Chart 15. Italian Serie A sponsorship revenue by type (%) ...... 68 Table 28. Italian Serie A sponsorship revenue by industry ...... 69 Chart 16. Italian Serie A sponsorship revenue by industry by value ...... 69 Chart 17. Italian Serie A sponsorship revenue by industry by number of deals ...... 70 Table 29. Italian Serie A major sponsorship spend by company ...... 70 Table 30. Italian Serie A source of sponsorship spend by company HQ ...... 71 Table 31a. Italian Serie A sponsors by club: AC Milan ...... 72 Table 31b. Italian Serie A sponsors by club: Roma / Atalanta / Cagliari ...... 73 Table 31c. Italian Serie A sponsors by club: Cesena / Chievo / Empoli ...... 74 Table 31d. Italian Serie A sponsors by club: Fiorentina / Genoa ...... 75 Table 31e. Italian Serie A sponsors by club: Hellas Verona ...... 76 Table 31f. Italian Serie A sponsors by club: Inter Milan ...... 77 Table 31g. Italian Serie A sponsors by club: Juventus ...... 78 Table 31h. Italian Serie A sponsors by club: Lazio ...... 79 Table 31i. Italian Serie A sponsors by club: Napoli ...... 80 Table 31j. Italian Serie A sponsors by club: Palermo / Parma ...... 81 Table 31k. Italian Serie A sponsors by club: Sampdoria / Sassuolo ...... 82 Table 31l. Italian Serie A sponsors by club: Torino / Udinese ...... 83

Table 32. French Ligue 1 sponsorship revenue by club (€m) ...... 84 Table 33. French Ligue 1 sponsorship revenue by type ...... 85 Chart 18. French Ligue 1 sponsorship revenue by type (%) ...... 85 Table 34. French Ligue 1 sponsorship revenue by industry ...... 86 Chart 19. French Ligue 1 sponsorship revenue by industry by value ...... 86 Chart 20. French Ligue 1 sponsorship revenue by industry by number of deals ...... 87 Table 35. French Ligue 1 major sponsorship spend by company ...... 87 Table 36. French Ligue 1 source of sponsorship spend by company HQ ...... 88 Table 37a. French Ligue 1 sponsors by club: Monaco / St-Etienne / En Avant ...... 89

European Premier Football September 1, 2014

Table 37b. French Ligue 1 sponsors by club: Thonon / Bordeaux / Lorient / Metz ...... 90 Table 37c. French Ligue 1 sponsors by club: Lille / Montpellier / Nantes ...... 91 Table 37d. French Ligue 1 sponsors by club: Nice / Marseille / Lyonnais ...... 92 Table 37e. French Ligue 1 sponsors by club: Paris Saint-Germain ...... 93 Table 37f. French Ligue 1 sponsors by club: Lens / Bastia / Caen ...... 94 Table 37g. French Ligue 1 sponsors by club: Reims / Rennais ...... 95 Table 37h. French Ligue 1 sponsors by club: Toulouse ...... 96

Table 38. Dutch Eredivisie sponsorship revenue by club (€m)...... 97 Table 39. Dutch Eredivisie sponsorship revenue by type ...... 98 Chart 21. Dutch Eredivisie sponsorship revenue by type (%) ...... 98 Table 40. Dutch Eredivisie sponsorship revenue by industry ...... 99 Chart 22. Dutch Eredivisie sponsorship revenue by industry by value ...... 99 Chart 23. Dutch Eredivisie sponsorship revenue by industry by number of deals ...... 100 Table 41. Dutch Eredivisie major sponsorship spend by company ...... 100 Table 42. Dutch Eredivisie source of sponsorship spend by company HQ ...... 101 Table 43a. Dutch Eredivisie sponsors by club: ADO DH / Ajax / Alkmaar / Excelsior ...... 102 Table 43b. Dutch Eredivisie sponsors by club: Dordrecht / Groningen ...... 103 Table 43c. Dutch Eredivisie sponsors by club: Twente / Utrecht ...... 104 Table 43d. Dutch Eredivisie sponsors by club: Feyenoord / Deventer ...... 105 Table 43e. Dutch Eredivisie sponsors by club: Almelo / Breda / Zwolle ...... 106 Table 43f. Dutch Eredivisie sponsors by club: PSV / Cambuur ...... 107 Table 43g. Dutch Eredivisie sponsors by club: Heerenveen / Arnhem / Willem II ...... 108

European Premier Football September 1, 2014

EXECUTIVE SUMMARY

SOCCER SPONSORSHIP – CONTINUED GROWTH

Analysis of the 1,179 significant soccer club sponsorship deals (excluding kit supplier deals) in Europe’s top six leagues throws up some surprising findings.

The overall trend shows a very significant increase in primary shirt deal values, particularly in England, France and Spain, where rights expenditure has grown by more than 40% in the past two years.

The English Premier League has now become the dominant commercial force in Europe. Aside from having major domestic and international broadcasting contracts, the sponsorship revenue now stands at nearly €460m and represents 35% of spend in the markets analysed.

There are, however, reasons to be cautious about whether such a growth rate can be sustained and certainly the 83% increase seen in England is unlikely to continue given that most of the major clubs have recently signed off on their major deals.

The data shows that France has moved above the Netherlands at the bottom of the table and is hot on the heels of Italy in terms of overall spend. The driver in France is Paris Saint-Germain, which has secured significant deals with Gulf-based sponsors and is also working towards achieving a portfolio of high profile, global brands.

MARKET POLARITY

The findings show huge polarity in the market. In the English Premier League, for example, top earning club Manchester United receives 95 times more in sponsorship income that the lowest sponsorship recipient, Burnley. There are similar inequalities in all other leagues, particularly in Spain and France, where commercial giants Barcelona and Paris Saint-Germain dwarf the income of the smaller clubs. In Germany, the disparity is not so great although the difference between Bayern Munich and smallest club SC Paderborn, is still a staggering €80.5m.

MANCHESTER UNITED WAY OUT IN FRONT

With total sponsorship earnings now up to €146m per year, Manchester United accounts for 11% of all sponsorship income among the 116 clubs in Europe’s top six leagues.

A group of clubs led by Barcelona and including Bayern Munich, Real Madrid, Paris St Germain and Arsenal comprise a secondary pack with revenues exceeding €60m. After that club earnings fall to below €40m with an average of €11.3m.

The key factor that several of the leading recipients of sponsorship have in common is significant primary shirt deals run in parallel with new regional sponsorships. Manchester United has been particularly active in this regard and at one point in 2014 was reporting a new deal on an almost weekly basis. Barcelona, Manchester City, Arsenal, and to a lesser extent Chelsea and Liverpool, have followed a similar strategy and this trend is likely to continue. Indeed, it could be argued that

European Premier Football September 1, 2014 some clubs have been very slow to follow given the huge popularity of European leagues in Asia in particular.

SPONSORSHIP IMMATURITY IN SPAIN, ITALY AND FRANCE

Given the size and profile of clubs in Italy, Spain and to a lesser extent France, the level of sponsorship income among the small to medium-sized clubs in particular can be considered low. On the whole, rights holders across Europe are still far from professional in their approach to sponsorship and in the Latin countries, sponsorship culture is undoubtedly behind that of Germany, England and the Netherlands. There are clearly some exceptions such as Barcelona and Paris St Germain, but the report demonstrates that there are major opportunities for most clubs.

SPONSORSHIP – MAKING A COMPETITIVE DIFFERENCE

Where TV rights are negotiated collectively, which happens in all the major European leagues except Spain, sponsorship revenue is becoming an increasingly important factor in determining the difference between clubs. Broadly speaking, there are three main revenue streams for clubs: TV, match day and commercial.

Where TV contracts are sold by leagues collectively, there tends to be a reasonably even distribution of the pool (the formula for distribution varies across Europe and the big clubs still tend to earn more than the smaller clubs, but the ratios are tighter than in leagues where there is individual selling).

This obviously doesn’t take account of the Champions League revenues that go only to the clubs participating and add around a minimum of €25m to those who qualify for the group stages.

Attendance revenue, once the main source of income for clubs, and still important, is now less of a critical factor in separating ‘rich’ from ‘poor’. Clubs with large average attendances, i.e. more than 50,000 per match, will still receive significantly more income than those with smaller attendances, but this inequality needs to be put into perspective. The growth in TV revenues means that for many clubs, overall income has grown significantly with match-day earnings now typically only accounting for around 30%-40% of total income. A club with relatively large match-day revenues, therefore, might not have a significantly larger turnover than a competitor in the same league but with much smaller attendances.

The numbers are, of course, approximations, but it shows that sponsorship revenues, where the disparity can be huge, is a key defining factor in establishing a club hierarchy in Europe and this is particularly the case in England, France and Germany. Manchester United, Paris St Germain and Bayern Munich are showing earnings well in excess of their competitors mainly due to the sponsorship income that they are receiving.

THE FUTURE

The growth in club sponsorship is likely to slow down over the next two years mainly as a result of the major clubs having fixed their contracts for primary assets. These clubs are, however, likely to increase their sales to regional brands and increase the premiums charged for secondary deals.

The next round of renewals among the European giants is likely to be around 2016/17. This period could see a further significant hike in primary rights fees as the likes of Barcelona, Bayern Munich and Liverpool cite Manchester United as the benchmark for fee value and negotiate higher deals.

For smaller clubs, fee values have grown slowly over the past few years and in Spain and Italy several clubs have started the 2014/15 season without a primary shirt sponsor. It is imperative that these smaller clubs take a more professional approach to their rights if they are to have a chance of

European Premier Football September 1, 2014 competing commercially in the future. A struggling English Premiership or La Liga club, for example, will have a shirt front viewed by hundreds of millions of people around the world on multiple occasions during the season. To fail to capitalise on such an asset is a major missed opportunity.

European Premier Football September 1, 2014

SOCCER CLUB SPONSORSHIP ANALYSIS – EUROPEAN OVERVIEW

ENGLISH PREMIER LEAGUE NOW DOMINANT

The English Premier League has, in the past two years, taken a dominant position in sponsorship income among European soccer clubs. As recently as 2012/13, the German Bundesliga was pretty much on a par with its English equivalent – see Chart 3, which analyses primary shirt deals, shows.

Indeed the average deal value in the Bundesliga was actually higher than that of the Premiership, but the lesser number of clubs meant that the aggregated value of Premiership deals just eclipsed the German total. With major increases in primary deals for Manchester United, Arsenal, Chelsea and Tottenham, as well as major clubs embarking on regional rights sales, the Premier League clubs have made huge strides in their sponsorship revenue generation in the past two years.

Table 1. European soccer club sponsorship rights income by country by value Total deal Average No of No of value (€m) deal value deals teams (€m)

English Premier League 459.57 1.80 255 20 Bundesliga 313.51 1.54 204 18 La Liga 233.50 1.42 165 20 Serie A 131.98 0.58 227 20 Ligue 1 125.72 0.73 172 20 Eredivisie 57.22 0.37 156 18 Grand Total 1,321.50 1.12 1179 116

Chart 1. European soccer club sponsorship rights income by country by %

Ligue 1 Eredivisie 9% 4%

Serie A English Premier 10% League 35%

La Liga 18% Bundesliga 24%

Spain’s La Liga is in third place in the income rankings entirely because of the commercial strength of its two giant clubs; Barcelona and Real Madrid. In Italy, Serie A continues to struggle as a footballing powerhouse; with just 10% of sponsorship revenue, the data emphasises the rapid fall from grace in a footballing nation that just 20 years ago was by far the wealthiest on the planet. Indeed Italy looks as though it could be overtaken by France in terms of sponsorship earnings within the next year.

European Premier Football September 1, 2014

SPONSORSHIP CHANGE FROM 2012/13 – 38% RISE OVERALL

Table 2. European primary shirt sponsorship spend by country 2012/13 v 2014/15 2014/15 2014/15 2012/13 2012/13 % Total deal Average Total Average Change value (€m) deal value deal deal value (€m) value (€m) (€m) English Premier League 234.44 11.72 128 6.4 83.15% Bundesliga 139.65 7.76 121 6.7 15.40% La Liga 87.98 4.40 62 3.1 41.90% Serie A 80.95 4.05 79 4 2.40% Ligue 1 57.62 2.88 30 1.5 92% Eredivisie 39.57 2.20 42 2.1 -5.70% Grand Total 640.20 5.52 462 3.96 38.57%

Table 2, which analyses the change in primary shirt deals, shows that the English Premier League has grown by 83% in just two seasons, compared to 15.4% for the Bundesliga. As discussed, this is mainly down to significant new and renewal increases among four leading clubs. With Manchester City’s major Etihad deal set to run for several more years, and Liverpool’s agreement with Standard Chartered also sealed until 2016, the pace of growth in the Premiership will now slow. Growth is likely to be driven mainly by regional deals in which clubs agree sponsorships on a national/regional basis, mainly with brands based in Asia and the Middle East.

Chart 2. European primary shirt sponsorship spend by country by share 2014/15

Eredivisie Ligue 1 6% 9%

Serie A English Premier 13% League 36%

La Liga 14% Bundesliga 22%

The 92% growth in income in France’s Ligue 1 is mainly a result of the commercial expansion of Paris Saint-Germain. Ligue 1 started at a low base of just €30m in 2012/13, so PSG’s €25m deal with Emirates makes a huge difference to the total.

In the Netherlands, the total primary sponsorship value has actually fallen slightly in the past two years. This is partly due to the fact that in 2012/13 most of the big club deals were new and they have not since been renewed. The fall is due to a few lower valued deals among smaller clubs as well as, for example, the relegation of Roda JC Kerkrade, which had a significant deal with accountancy firm Accon-avm.

European Premier Football September 1, 2014

EUROPEAN SOCCER SPONSORSHIP BY CLUB

Table 3. European soccer club sponsorship by club Club Total Average deal No of % of income value (€m) deals total (€m) Manchester United 146.62 3.12 47 11.10% FC Barcelona 107.18 4.87 22 8.11% Bayern Munich 82.05 3.28 25 6.21% Manchester City 80.95 3.11 26 6.13% Real Madrid 78.19 6.01 13 5.92% Arsenal 69.46 3.66 19 5.26% Paris Saint-Germain 65.95 3.47 19 4.99% Liverpool 38.11 1.81 21 2.88% Schalke 04 34.12 2.62 13 2.58% Borussia Dortmund 31.95 2.13 15 2.42% Chelsea 29.26 1.54 19 2.21% Juventus 26.68 1.78 15 2.02% Tottenham Hotspur 25.03 4.17 6 1.89% AC Milan 22.60 0.94 24 1.71% Hamburger SV 21.25 1.93 11 1.61% Inter Milan FC 18.72 1.56 12 1.42% Werder Bremen 17.85 0.94 19 1.35% Atletico Madrid 17.24 1.92 9 1.30% VFL Wolfsburg 16.85 1.87 9 1.28% Eintracht Frankfurt 16.05 0.76 21 1.21% Napoli 15.96 0.66 24 1.21% VfB Stuttgart 15.29 1.53 10 1.16% Ajax 14.31 3.58 4 1.08%

MANCHESTER UNITED TAKE 11% OF TOTAL It is an extraordinary figure, but Manchester United now has 11% of the total sponsorship income from clubs in the top six leagues on the continent. For a club that finished 7th in the English Premiership and stand 8th in the table of all time Champions League (including European Cup) winners, with their most recent victory seen in 2008, the achievement is impressive. Of course the 2013/14 season was a rare disaster for the club in the modern era, but it shows that being the biggest club in the most popular televised league is far more important commercially than being the most successful club in Europe. The Premiership gives the top English clubs a huge commercial advantage in that the language used is English, far more widely spoken than any other European language, and the Premiership is considered the most exciting league to watch on TV across most of the world.

That said, it is not without considerable effort and investment that Manchester United has been able to realise such huge sums from its sponsorship operations. A dedicated office in the exclusive Mayfair area of London serves international clients and the regional partnerships alone (i.e. sponsorships activated in only one or a selected number of countries) are estimated to be worth more than €30m per year.

Barcelona and Manchester City have successfully followed this model (Manchester City also now has a London office) with both having particular success through their Middle Eastern connections.

European Premier Football September 1, 2014

Bayern’s strength is much more down to large national deals (with global rights) rather than regional partnerships although the club has opened a US office recently and is looking to grow internationally.

Both Arsenal and Liverpool have also had success with regional offerings, although it is arguable that the latter could be much more successful given the club’s profile in the Far East in particular.

Real Madrid has huge commercial revenues through licensing and player rights, but it would appear that regional sponsorship deals are not a prime objective at present. Likewise, Paris Saint-Germain has declared that its sponsorship strategy is to have a limited number of global partners each of which have international profile. For PSG, this is in part a brand building exercise rather than a straightforward revenue model.

The clubs with surprisingly low totals here are Chelsea, Tottenham Hotspur and arguably the three Italian giants; Juventus, AC Milan and Inter Milan. Certainly Chelsea and Tottenham have the profile delivered by the English Premier League to be in the market for regional sponsorship deals. Chelsea’s continuous Champions League qualification make it an obvious and well-placed contender to grow its sponsorship revenues. The Italian clubs are clearly suffering from the general malaise that has affected Italian soccer over the past decade. Fan surveys do, however, suggest that the big three clubs have strong followings in Asia and this is clearly another area where Serie A club management has failed to grasp opportunities.

Chart 3. European primary shirt sponsorship spend by country by share 2012/13

Eredivisie Ligue 1 9% English Premier 7% League 28% Serie A 17%

Bundesliga La Liga 26% 13%

AIRLINES AND FINANCIAL SERVICES - TOP SOCCER INVESTORS

Analysis of European club sponsorship by industry shows that airlines, financial services and car manufacturers are dominant. Airlines are mainly accounted for by Emirates’ deals with Arsenal, Real Madrid and Paris Saint-Germain, Barcelona’s Qatar Airways primary sponsorship along with Etihad’s primary shirt and naming rights deals with Manchester City.

Financial services, usually the biggest sponsoring sector in sport, has 130 deals with notable sponsorships including Standard Chartered (Liverpool), AEGON (Ajax), Aon (Manchester United), AIA (Tottenham Hotspur), BBVA (Real Madrid) and Mercedes Benz Bank (VfB Stuttgart).

Car manufacturers, a sector that has traditionally invested significantly in soccer, have returned with major deals, most notably Chevrolet’s €61m per year deal with Manchester United, which will actually

European Premier Football September 1, 2014 grow over the duration of the deal. Most clubs have a car-related deal on some level, whether with a manufacturer or dealer and these usually include a significant in-kind element.

Table 4. European soccer club sponsorship spend by industry sector by value Industry sector Total spend Average deal No of % of league (€m) value (€m) deals total Airline 232.15 9.67 24 18% Financial Services 204.56 1.57 130 15% Automotive 177.17 2.24 79 13% Telecommunications 93.39 1.37 68 7% Alcohol 69.45 0.85 82 5% Gambling 60.67 0.77 79 5% Soft Drinks 47.40 0.78 61 4% Consumer Electronics 45.54 2.53 18 3% Food 40.74 0.83 49 3% Energy 37.69 1.71 22 3% Construction 28.45 2.04 37 2% IT 27.41 0.98 28 2% Automotive Products 24.59 1.37 18 2% Retail 24.55 0.41 60 2% Chemicals 14.86 7.43 2 1% Fashion 13.23 0.35 38 1% Health Insurance 12.61 0.57 22 1% Logistics 11.83 0.70 17 1% Leisure 11.36 0.34 33 1% Time Keeping 10.20 1.28 8 1% Transport 9.75 0.39 25 1% White Goods 9.24 9.24 1 1% Tourism 9.07 0.38 24 1% National Promotion 8.39 4.19 2 1% Toiletries 7.90 1.13 7 1% Video Gaming 7.66 0.70 11 1% Property 7.10 0.34 21 1% Media 6.92 0.22 31 1%

The telecoms sector has mainly invested in lower value deals such as Orange’s backing of the majority of French Ligue 1 clubs with second tier deals. The only two ‘mega’ deals are between Deutsche Telekom and Bayern Munich (€30m) and Ooredoo and Paris Saint-Germain (€15m).

Alcohol is a big investor in soccer, mainly through pouring rights/secondary sponsorship deals. No club in Europe has a primary deal with a brewer and it is important to bear in mind that in France alcohol sponsorship is banned.

Gambling continues to be an important sector mainly because sponsorship offers the opportunity to facilitate betting at stadia or online. As such, the opportunity to link with a club gives gambling companies direct access to fans. Sponsorship is also attractive to online companies in particular because many have yet to establish brand awareness. With so many different online gambling organisations having little brand heritage or differentiation, it is awareness of the url that is key to growth. Sponsorship is a very useful marketing tool to drive such awareness, especially given its innate ability to deliver a direct audience linked to specific clubs.

European Premier Football September 1, 2014

Chart 4. European soccer club sponsorship spend by industry sector by value

Other Food Consumer Electronics Soft Drinks Gambling Alcohol Telecommunications Automotive Financial Services Airline

0 50 100 150 200 250 300 350 400

Table 5. European soccer club sponsorship spend by industry sector by number of deals Industry sector No of % of league Total Average deal deals total spend (€m) value (€m) Financial Services 130 15% 204.56 1.57 Alcohol 82 5% 69.45 0.85 Automotive 79 13% 177.17 2.24 Gambling 79 5% 60.67 0.77 Telecommunications 68 7% 93.39 1.37 Soft Drinks 61 4% 47.40 0.78 Retail 60 2% 24.55 0.41 Food 49 3% 40.74 0.83 Fashion 38 1% 13.23 0.35 Construction 37 2% 28.45 2.04 Leisure 33 1% 11.36 0.34 Media 31 1% 6.92 0.22 IT 28 2% 27.41 0.98 Transport 25 1% 9.75 0.39 Airline 24 18% 232.15 9.67 Tourism 24 1% 9.07 0.38 Energy 22 3% 37.69 1.71 Health Insurance 22 1% 12.61 0.57 Property 21 1% 7.10 0.34 Recruitment 20 0% 6.08 0.30 Consumer Electronics 18 3% 45.54 2.53 Automotive Products 18 2% 24.59 1.37 Logistics 17 1% 11.83 0.70 Healthcare 14 0% 3.77 0.27 Video Gaming 11 1% 7.66 0.70 Government 11 0% 3.72 0.34 Marketing 10 0% 1.08 0.11

European Premier Football September 1, 2014

Chart 5. European soccer club sponsorship spend by industry sector by number of deals

Other

Food

Retail

Soft Drinks

Telecommunications

Gambling

Automotive

Alcohol

Financial Services

0 100 200 300 400 500 600

As discussed, Emirates is by far the leading investor in sponsorship in European soccer with a total spend of €127m. The airline is one of the world’s leading sponsors and has rights to the FIFA World Cup as well as major deals in cricket, golf, sailing and horse sports. Etihad in particular, and Qatar Airways to a lesser extent, are showing signs of following Emirates’ strategy. All are Gulf-based carriers seeking to develop their brands but importantly also their hubs and route networks. Connecting Europe and Asia is key to their growth and European soccer, which is the most watched sport in each continent, is seen as the ideal vehicle.

Table 6. European soccer club sponsorship spend by company Company Total Average No of % of spend deal deals league (€m) value total (€m) Emirates 126.84 21.14 6 10% Chevrolet 61.60 61.60 1 5% Etihad 50.00 25.00 2 4% Qatar Airways 36.19 36.19 1 3% Audi 33.26 3.70 9 3% Deutsche Telekom 30.62 15.31 2 2% Standard Chartered 23.10 23.10 1 2% Samsung 21.48 7.16 3 2% AIA 20.56 20.56 1 2% Aon 19.48 9.74 2 1% Gazprom 18.87 9.43 2 1% Volkswagen 17.79 2.54 7 1% Jeep 17.52 17.52 1 1% Coca-Cola 16.72 0.67 25 1% Ooredoo 15.00 15.00 1 1% Evonik 13.86 13.86 1 1% Pirelli 13.10 13.10 1 1% Lete 12.67 4.22 3 1%

European Premier Football September 1, 2014

Table 6b. European soccer club sponsorship spend by company Company Total Average No of % of spend deal deals league (€m) value total (€m)

Bwin 12.55 2.51 5 1% AEGON 12 12 1 1% Mapei 11 11 1 1% Allianz 10.75 3.58 3 1% DHL 10.01 5.01 2 1% Wonga.com 10 10 1 1% Carlsberg 9.89 1.24 8 1% Philips 9.31 3.1 3 1% Beko 9.24 9.24 1 1% SAP 9.06 3.02 3 1% Chang 8.74 4.37 2 1% La Caixa 8.55 0.95 9 1% Azerbaijan 8.39 4.19 2 1%

Audi’s strong showing in the table is mainly down to high value secondary deals with such clubs as Barcelona, Real Madrid, Bayern Munich, Chelsea and AC Milan. Bwin, which formerly had high profile primary sponsorship deals (most notably with Real Madrid and AC Milan), is still among the leading sponsors through a series of secondary deals with major clubs such as Manchester United, Real Madrid and Juventus.

GERMAN COMPANIES LEAD IN CLUB INVESTMENT

Table 7. Major sources of European sponsorship spend by company HQ Country Total Average No of % of spend deal deals league (€m) value total (€m) Germany 277.44 1.52 182 21% USA 149.88 2.34 64 11% Dubai 127.92 18.27 7 10% Italy 91.14 0.53 171 7% UK 70.95 0.77 92 5% Abu Dhabi 59.55 8.51 7 5% Spain 58.72 0.55 107 4% Qatar 55.04 13.76 4 4% Netherlands 53.78 0.38 142 4% France 52.85 0.35 149 4% China 45.04 2.14 21 3% South Korea 38.02 2.92 13 3% Russia 28.49 4.75 6 2% Japan 26.74 0.95 28 2% Switzerland 19.95 0.77 26 2%

European Premier Football September 1, 2014

Despite falling behind England in terms of sponsorship earnings in club soccer, Germany still boasts the largest investment in the leagues analysed. With 21% of total spend, German companies are significant investors in most of the European leagues.

Audi, which has no primary deals, leads the pack having significant secondary sponsorships in Spain, England and Italy as previously discussed, as well as a series of deals with Bundesliga clubs.

Other major German sponsors with trans-national rights include Volkswagen, SAP, Allianz, Nivea, DHL, Jack Wolfskin and Mercedes.

The significant presence of Gulf States in table 7 is not unconnected to the ownership of the likes of Manchester City and Paris St Germain and the close ties that Barcelona has with Qatar. This has seen billions of euros pumped into leading soccer clubs in terms of outright purchase, financing and sponsorship from the region.

It is perhaps surprising to see so few US brands in the leading sponsors list and, if Chevrolet’s deal with Manchester United were taken out of the equation, there would be a relatively low overall value of US investment. The likely reason is that on the whole major US multi-nationals prefer the mega- events such as the FIFA World Cup, Olympics and Champions League when conducting international sponsorships. Chevrolet has, of course, signed the biggest deal in Europe with Manchester United, but this was not without controversy given that the brand withdrew from Europe shortly after the signing and the executive responsible for the deal left almost immediately.

Coca-Cola, which rarely takes high-profile club sponsorship rights, has a total of 25 deals, most notably in Spain where it backs most clubs with pouring rights at the stadia a key element of the sponsorships.

What is also noticeable is that China is moving up the table, with a series of regional deals involving the major clubs, and companies such as AIA and Huawei are now taking global rights.

Japan, on the other hand, so long a major investor in European sport, has slipped well down the table with a handful of secondary deals involving Panasonic and much smaller deals from imaging rights companies Kyocera, Ricoh and Epson. The data is perhaps symbolic of the shifting balance of economic power in the Far East.

The growth of sponsorship from Russia has continued in recent years, with major deals being primary shirt sponsorships such as Gazprom with Schalke and FEDCOM with Monaco, as well as Aeroflot’s significant secondary deal with Manchester United. The EU’s stand-off with the country over Ukraine could, however, impact the future level of commercial investment from the country.

European Premier Football September 1, 2014

ENGLAND – ENGLISH PREMIER LEAGUE

MAN UTD ACCOUNTS FOR THIRD OF EPL SPONSORSHIP INCOME

As discussed, the English Premier League is now by a significant margin the leading recipient of sponsorship income among Europe’s leagues.

The sponsorship league table broadly follows the pattern of club on-field standings in recent years although Chelsea would appear to be under-performing given the club’s profile, fan base and exclusive West London location.

Table 8. English Premier League sponsorship revenue by club (€m) Club Total Average No of % of income deal deals league (€m) value total (€m) Manchester United 146.62 3.12 47 32% Manchester City 80.95 3.11 26 18% Arsenal 69.46 3.66 19 15% Liverpool 38.11 1.81 21 8% Chelsea 29.26 1.54 19 6% Tottenham Hotspur 25.03 4.17 6 5% Newcastle United 11.54 1.65 7 3% Everton 10.55 0.75 14 2% Aston Villa 9.75 1.08 9 2% Sunderland 7.07 1.01 7 2% Stoke City 5.93 0.66 9 1% West Ham United 4.75 0.68 7 1% Leicester City 4.39 0.31 14 1% Swansea City 3.66 0.46 8 1% Queens Park Rangers 3.27 0.47 7 1% Southampton 2.39 0.30 8 1% West Bromwich Albion 1.89 0.32 6 <1% Hull City 1.85 0.17 11 <1% Crystal Palace 1.58 0.53 3 <1% Burnley FC 1.54 0.22 7 <1%

Table 9. English Premier League sponsorship revenue by type English Premier League Total deal Average No of value (€m) deal value deals (€m)

Primary Club Sponsor 234.44 11.72 20 Naming Rights 39.68 7.94 5 Regional Partner 47.20 0.73 65 Tier 2 Sponsor 82.39 0.78 105 Tier 3 Sponsor 55.87 0.93 60 Grand Total 459.57 1.80 255

European Premier Football September 1, 2014

Naming rights deals in England are not so developed as in Germany with only five clubs (Arsenal, Manchester City, Stoke, Swansea and Leicester) in the Premier League currently having such sponsorships and only those of Manchester City (€25m) and Arsenal (€11.5m) being for significant sums.

Chart 6. English Premier League sponsorship revenue by type (%)

Naming Rights Tier 3 Sponsor 9% 12% Tier 2 Sponsor 18%

Primary Club Sponsor 51%

Regional Partner 10%

ENGLISH PREMIER LEAGUE SPONSORSHIP BY INDUSTRY

Table 10. English Premier League sponsorship revenue by industry Industry Total Average No of spend deal deals (€m) value (€m) Airline 110.22 11.02 10 Financial Services 97.93 3.38 29 Automotive 75.39 5.38 14 Alcohol 30.02 1.25 24 Gambling 27.68 0.84 33 Consumer Electronics 23.02 3.84 6 Telecommunications 15.75 0.93 17 Food 12.77 1.16 11 Soft Drinks 7.34 0.61 12 Logistics 6.69 1.67 4

Airlines are the leading investors in the English Premier League spending more than €110m per year with Emirates (Arsenal) and Etihad (Manchester City) the leading contributors. Queens Park Rangers has a much lower primary deal with Air Asia whereas Aeroflot (Man Utd) Garuda (Liverpool) and Delta (Chelsea) all represent significant secondary deals.

Financial Service sponsorships are headed by Standard Chartered’s primary sponsorship with Liverpool and Chinese company AIA’s new deal with Tottenham Hotspur. Aon’s major training ground naming rights with Manchester United, at €19.25m, is equivalent in value to most major club primary deals. West Ham United (Alpari) and Newcastle United (Wonga) are the other prominent domestic

European Premier Football September 1, 2014 deals. The sector’s input is boosted by a series of regional deals negotiated by Manchester United, Manchester City, Arsenal and Liverpool in Asia and the Middle East in particular.

Chart 7. English Premier League sponsorship revenue by industry by value

Other Logistics Soft Drinks Food Telecommunications Consumer Electronics Gambling Alcohol Automotive Financial Services Airline

0 20 40 60 80 100 120

Chart 8. English Premier League sponsorship revenue by industry by number of deals

Other Logistics Soft Drinks Food Telecommunications Consumer Electronics Gambling Alcohol Automotive Financial Services Airline

0 20 40 60 80 100

The most notable car industry deal is obviously Manchester United’s record breaking agreement with Chevrolet, followed by neighbour Manchester City’s €5m secondary sponsorship with Nissan.

English clubs still retain a large number of beer sponsorships although most are based on stadium pouring rights rather than high profile branding initiatives.

European Premier Football September 1, 2014

Table11. English Premier League major sponsorship spend by company Company Total Average No of spend deal value deals (€m) (€m)

Chevrolet 61.60 61.60 1 Etihad 50.00 25.00 2 Emirates 49.05 24.53 2 Standard Chartered 23.10 23.10 1 AIA 20.56 20.56 1 Aon 19.25 19.25 1 Samsung 18.40 18.40 1 Wonga.com 10.00 10.00 1 Carlsberg 9.89 1.24 8 Dafabet 6.64 3.32 2 Chang 6.63 6.63 1 Bidvest 6.25 6.25 1 DHL 6.16 6.16 1 Nissan 5.00 5.00 1 Paddy Power 4.77 2.39 2 Bet365 4.37 0.87 5 EA Sports 4.04 0.67 6 Garuda Indonesia 3.85 3.85 1 STC 3.85 3.85 1 Alpari 3.75 3.75 1

The list of major companies sponsoring English Premier League clubs according to overall investment mainly features the primary shirt deals. However, some of the smaller club sponsors fail to make the list because secondary and regional deals with leading clubs can be much larger.

Carlsberg is the most notable ‘multiple’ sponsor on the list, with eight deals in the league which provide the lager brand with pouring rights. As such, the ‘sponsorship’ value of these deals is only a part of the overall total.

52 COUNTRIES INVEST IN THE ENGLISH PREMIER LEAGUE

The global appeal of the English Premier League is underlined by the fact that companies from 52 different countries now have sponsorship deals with clubs. By value the biggest investor is the US, although this is primarily the result of the huge Chevrolet/Manchester United deal.

What is noticeable is that when the US and UK are removed from the equation, the next six big investing nations are from the Middle and Far East. Europe, despite being a huge trading partner with the UK, is not a major investor in English club sponsorship. Denmark’s position is mainly a result of Carlsberg’s pouring rights deals with eight clubs, and German companies have just seven deals.

European Premier Football September 1, 2014

Table 12a. English Premier League source of sponsorship spend by company HQ Country Total Average No of % of spend deal deals league (€m) value total (€m) USA 95 5.27 18 20.67% UK 66.8 0.7 86 14.54% Abu Dhabi 56.85 9.48 6 12.37% Dubai 50.13 16.71 3 10.91% China 28.31 3.15 9 6.16% South Korea 20.87 5.22 4 4.54% Japan 18.63 1.55 12 4.05% Thailand 16.63 1.39 12 3.62% Denmark 10.51 1.17 9 2.29% Germany 8.65 1.24 7 1.88% South Africa 8.14 1.63 5 1.77% Philippines 6.98 1.40 5 1.52% Russia 6.93 1.73 4 1.51% Indonesia 6.47 1.29 5 1.41% Republic of Ireland 4.77 2.39 2 1.04% Canada 4.04 0.67 6 0.88% Saudi Arabia 3.85 3.85 1 0.84% Malaysia 3.73 1.24 3 0.81% Isle of Man 3.58 0.60 6 0.78% India 3.00 1.00 3 0.65% France 2.69 0.67 4 0.58% Chile 2.54 2.54 1 0.55% Netherlands 2.49 1.24 2 0.54% Italy 2.31 2.31 1 0.50% Kenya 2.12 0.71 3 0.46% Gibraltar 2.08 1.04 2 0.45% Azerbaijan 1.54 1.54 1 0.34% Qatar 1.54 1.54 1 0.34% Switzerland 1.54 0.39 4 0.34% UAE 1.54 1.54 1 0.34%

European Premier Football September 1, 2014

Table 12b. English Premier League source of sponsorship spend by company HQ Country Total Average No of % of spend deal deals league (€m) value total (€m) UK/Netherlands 1.54 1.54 1 0.34% Mexico 1.31 1.31 1 0.28% Africa 1.23 1.23 1 0.27% Korea 1.16 1.16 1 0.25% Turkey 1.08 0.54 2 0.23% Spain 0.92 0.46 2 0.20% Vietnam 0.92 0.46 2 0.20% Nigeria 0.77 0.77 1 0.17% Pakistan 0.77 0.77 1 0.17% Serbia 0.77 0.77 1 0.17% Taiwan 0.77 0.39 2 0.17% Austria 0.69 0.35 2 0.15% Bahrain 0.62 0.62 1 0.13% Kuwait 0.62 0.62 1 0.13% Bulgaria 0.39 0.39 1 0.08% Barbados 0.31 0.31 1 0.07% Hong Kong 0.23 0.23 1 0.05% Jamaica 0.19 0.19 1 0.04% Singapore 0.19 0.19 1 0.04% Burma 0.15 0.15 1 0.03% Norway 0.15 0.15 1 0.03% Tanzania 0.12 0.12 1 0.03% Malta 0.12 0.12 1 0.03%

European Premier Football September 1, 2014

Table 13a. English Premier League sponsors by club/ Arsenal Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Arsenal Emirates Airline Naming Rights 2013 2028 11.55 Arsenal Emirates Airline Primary Club Sponsor 2014 2019 37.50 Arsenal Imperial Bank Financial Services Regional Partner 2013 2016 0.77 Arsenal Sterling Bank Financial Services Regional Partner 2013 2016 0.77 Arsenal Bodog Gambling Regional Partner 2013 2016 0.77 Arsenal Paddy Power Gambling Regional Partner 2013 2016 1.16 Arsenal Airtel Telecommunications Regional Partner 2012 2015 0.77 Arsenal Carlsberg Alcohol Tier 2 Sponsor 2011 2015 3.85 Arsenal Citroën Automotive Tier 2 Sponsor 2011 2014 1.54 Arsenal Cooper Tires Automotive Products Tier 2 Sponsor 2014 1.16 Arsenal Vitality Health Insurance Tier 2 Sponsor 2014 2017 1.16 Arsenal Indesit Home Appliances Tier 2 Sponsor 2014 2017 1.16 Arsenal Gatorade Soft Drinks Tier 2 Sponsor 2013 2016 1.16 Arsenal Huawei Telecommunications Tier 2 Sponsor 2014 2016 1.16 Arsenal Jean Richard Time Keeping Tier 2 Sponsor 2014 1.16 Arsenal Hansa Pilsener Alcohol Tier 3 Sponsor 2014 1.16 Arsenal Europcar Automotive Tier 3 Sponsor 2014 0.77 Arsenal PruHealth Health Insurance Tier 3 Sponsor 2014 0.77 Arsenal BT Sport Media Tier 3 Sponsor 2013 1.16

European Premier Football September 1, 2014

Table 13b. English Premier League sponsors by club: Aston Villa / Burnley Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Aston Villa Dafabet Gambling Primary Club Sponsor 2013 2015 6.25 Aston Villa Carlsberg Alcohol Tier 2 Sponsor 2013 2016 0.92 Aston Villa FIAT Automotive Tier 2 Sponsor 0.27 Aston Villa Andalucia Tourism Tier 2 Sponsor 2014 0.62 Aston Villa EA Sports Video Gaming Tier 2 Sponsor 2013 0.62 Aston Villa Flannels Fashion Tier 3 Sponsor 0.27 Aston Villa William Hill Gambling Tier 3 Sponsor 2014 0.27 Aston Villa Crescent Printing Tier 3 Sponsor 0.27 Aston Villa Coca-Cola Soft Drinks Tier 3 Sponsor 0.27 Burnley FC Fun88 Gambling Primary Club Sponsor 2014 2015 1.13 Burnley FC David Fishwick Automotive Tier 2 Sponsor 0.07 Burnley FC Safran Aircelle Aviation Tier 2 Sponsor 0.07 Burnley FC Neville Gee Recruitment Tier 2 Sponsor 0.07 James Hargreaves Burnley FC Group Retail Tier 2 Sponsor 0.07 Burnley FC Oak Furnitureland Retail Tier 2 Sponsor 0.07 Burnley FC Totally Wicked Tobacco Tier 2 Sponsor 0.07

European Premier Football September 1, 2014

Table 13c. English Premier League sponsors by club: Chelsea / Crystal Palace Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Chelsea Samsung Consumer Electronics Primary Club Sponsor 2012 2015 18.40 Chelsea Grand Royal Alcohol Regional Partner 2014 2017 0.15 Chelsea Nitto Tire Automotive Products Regional Partner 2013 2016 0.39 Chelsea AFB Financial Services Regional Partner 2013 0.19 Chelsea BNI Financial Services Regional Partner 2012 0.31 Chelsea Orico Financial Services Regional Partner 2012 0.77 Chelsea VietinBank Financial Services Regional Partner 2012 0.31 Chelsea Coral Gambling Regional Partner 2014 0.39 Chelsea Digicel Telecommunications Regional Partner 2012 0.19 Chelsea Indosat Telecommunications Regional Partner 2014 0.77 Chelsea Delta Air Lines Airline Tier 2 Sponsor 2012 2014 1.39 Chelsea Singha Alcohol Tier 2 Sponsor 2012 2017 0.54 Chelsea Audi Automotive Tier 2 Sponsor 2012 2015 1.54 Chelsea Gazprom Energy Tier 2 Sponsor 2012 2015 2.31 Chelsea Sauber Automotive Tier 3 Sponsor 2012 0.00 Chelsea Hackett Fashion Tier 3 Sponsor 2013 2016 0.39 Chelsea Azimut Leisure Tier 3 Sponsor 2012 2015 0.77 Chelsea Levy Restaurants Restaurants Tier 3 Sponsor 2014 0.08 Chelsea Rotary Time Keeping Tier 3 Sponsor 2013 2017 0.39 Crystal Palace Neteller Financial Services Primary Club Sponsor 2014 2016 0.92 Crystal Palace Farr Vintners Alcohol Tier 2 Sponsor 0.19 Crystal Palace William Hill Gambling Tier 2 Sponsor 2014 0.46

European Premier Football September 1, 2014

Table 13d. English Premier League sponsors by club: Everton / Hull City Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Everton Chang Alcohol Primary Club Sponsor 2014 2017 6.63 Everton Kitbag Retail Tier 2 Sponsor 0.31 Everton Coral Gambling Tier 2 Sponsor 2014 2016 0.69 Everton Dafabet Gambling Tier 2 Sponsor 2012 2014 0.39 Everton Power 8 Gambling Tier 2 Sponsor 2014 2015 0.31 Everton Sodexo Hospitality Tier 2 Sponsor 0.31 Everton Thomas Cook Sport Leisure Tier 2 Sponsor 0.31 Everton Crabbie's Soft Drinks Tier 2 Sponsor 0.31 Everton EA Sports Video Gaming Tier 2 Sponsor 2013 2015 0.46 Everton Williams BMW Automotive Tier 3 Sponsor 2012 2015 0.15 Everton Warwick Wealth Financial Services Tier 3 Sponsor 0.15 Everton The Protein Works Food Tier 3 Sponsor 2013 0.19 Everton ADI.TV Media Tier 3 Sponsor 0.15 Everton Eleia Pure Soft Drinks Tier 3 Sponsor 0.19 Hull City 12Bet Gambling Primary Club Sponsor 2014 2016 0.92 Hull City Ideal Boilers Tier 2 Sponsor 2013 0.09 Hull City Burflex Scaffolding Construction Tier 2 Sponsor 0.09 Hull City Cranswick PLC Food Tier 2 Sponsor 0.09 Hull City Smith & Nephew Healthcare Tier 2 Sponsor 2011 2016 0.09 Hull City EON Visual Media Media Tier 2 Sponsor 0.09 Hull City Cash Converters Retail Tier 2 Sponsor 0.09 Hull City MKM Building Supplies Retail Tier 2 Sponsor 0.09 Scientific Laboratory Hull City Supplies Scientific products Tier 2 Sponsor 0.09 Hull City Powerade Soft Drinks Tier 2 Sponsor 0.09 Hull City Humberside Airport Transport Tier 2 Sponsor 0.09

European Premier Football September 1, 2014

Table 13e. English Premier League sponsors by club: Leicester City Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Leicester City King Power Retail Naming Rights 2011 1.25 Leicester City King Power Retail Primary Club Sponsor 2014 2015 1.25 Leicester City Air Asia Airline Tier 2 Sponsor 0.23 Leicester City Singha Alcohol Tier 2 Sponsor 0.19 Leicester City Walkers Food Tier 2 Sponsor 0.23 Leicester City Amazing Thailand Leisure Tier 2 Sponsor 0.15 Leicester City Greene King Alcohol Tier 2 Sponsor 0.19 Leicester City Synter Leicester Automotive Tier 3 Sponsor 0.09 Leicester City Upton Steel Construction Products Tier 3 Sponsor 0.09 Leicester City 666Bet Gambling Tier 3 Sponsor 2014 2015 0.31 Leicester City Gatorade Soft Drinks Tier 3 Sponsor 0.09 Leicester City Woods Transport Tier 3 Sponsor 0.09 Leicester City Bakers Waste Management Tier 3 Sponsor 0.12 Leicester City Marks Electrical Retail Tier 3 Sponsor 0.09

European Premier Football September 1, 2014

Table 13f. English Premier League sponsors by club: Liverpool Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Liverpool Standard Chartered Financial Services Primary Club Sponsor 2013 2016 23.10 Liverpool 188Bet Gambling Regional Partner 2014 2016 0.77 Liverpool ComeOn! Gambling Regional Partner 2014 2016 0.15 Liverpool Misli.com Gambling Regional Partner 2012 0.15 Liverpool Mono Group Media Regional Partner 0.15 Liverpool Courts Retail Regional Partner 2014 2016 0.19 Liverpool Xolo Telecommunications Regional Partner 2014 2017 0.31 Liverpool Garuda Indonesia Airline Tier 2 Sponsor 2014 2016 3.85 Liverpool Carlsberg Alcohol Tier 3 Sponsor 2013 2016 2.31 Liverpool Vauxhall Automotive Tier 3 Sponsor 2014 2016 1.50 Liverpool Maxxis Automotive Products Tier 3 Sponsor 2012 2015 0.39 Liverpool Jack Wolfskin Fashion Tier 3 Sponsor 2013 2016 0.31 Liverpool Konica Minolta Digital imaging Tier 3 Sponsor 2012 0.62 Liverpool InstaForex Financial Services Tier 3 Sponsor 2014 2016 0.77 Liverpool Dunkin Donuts Food Tier 3 Sponsor 2014 0.31 Liverpool Subway Food Tier 3 Sponsor 2014 0.31 Liverpool Vitality Health Insurance Tier 3 Sponsor 2014 2017 0.62 Liverpool Thomas Cook Sport Leisure Tier 3 Sponsor 2012 2015 0.61 Liverpool Gatorade Soft Drinks Tier 3 Sponsor 2013 2016 0.62 Barbados Tourism Liverpool Authority Tourism Tier 3 Sponsor 2014 2016 0.31 Liverpool EA Sports Video Gaming Tier 3 Sponsor 2013 2016 0.77

European Premier Football September 1, 2014

Table 13g. English Premier League sponsors by club: Manchester City

Rights Holder Company Industry Sector Status Start End Value P.A. (€m) Manchester City Etihad Airline Naming rights 2011 2020 25.00 Manchester City Etihad Airline Primary Club Sponsor 2011 2022 25.00 Manchester City Hansa Pilsener Alcohol Regional Partner 2014 2017 0.39 Manchester City Arabtec Construction Regional Partner 2014 2017 1.08 Manchester City First Gulf Bank Financial Services Regional Partner 2013 2016 1.08 Manchester City Jiwasraya Financial Services Regional Partner 2014 2016 0.77 Manchester City SHB Financial Services Regional Partner 2014 2016 0.62 Manchester City 188Bet Gambling Regional Partner 2013 1.16 Manchester City QNET Multi-level marketing Regional Partner 2014 0.92 Manchester City MTN Telecommunications Regional Partner 2014 2016 0.23 Manchester City Amstel Alcohol Tier 2 Sponsor 2010 2.31 Manchester City Nissan Automotive Tier 2 Sponsor 2014 2019 5.00 Manchester City LG Consumer Electronics Tier 2 Sponsor 2013 2015 1.54 Manchester City Forex.com Financial Services Tier 2 Sponsor 1.16 Manchester City Paddy Power Gambling Tier 2 Sponsor 2013 2015 3.62 Manchester City aabar Property Tier 2 Sponsor 2.31 Manchester City Hays Recruitment Tier 2 Sponsor 3ys 0.77 Manchester City Etisalat Telecommunications Tier 2 Sponsor 1.54 Manchester City TCA Abu Dhabi Tourism Tier 2 Sponsor 1.93 Manchester City EA Sports Video Gaming Tier 2 Sponsor 1.39 Manchester City T.M.Lewin Fashion Tier 3 Sponsor 2014 2016 0.23 Manchester City iON Consumer Electronics Tier 3 Sponsor 2014 2017 0.69 Manchester City PruHealth Health Insurance Tier 3 Sponsor 2014 2017 0.77 Manchester City Jaguar Energy Drink Soft Drinks Tier 3 Sponsor 2014 0.69 Manchester City 2Stic Sticker collections Tier 3 Sponsor 0.23 Manchester City Thompson Sport Tourism Tier 3 Sponsor 2014 0.54

European Premier Football September 1, 2014

Table 13h. English Premier League sponsors by club: Manchester United Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Manchester United Chevrolet Automotive Primary Club Sponsor 2014 2021 61.60 Manchester United A.P Honda Automotive Regional Partner 2011 2014 1.16 Manchester United Apollo Automotive Products Regional Partner 2013 2016 1.93 Manchester United Federal Corporation Automotive Products Regional Partner 2013 0.39 Manchester United Multistrada Automotive Products Regional Partner 2013 2016 0.77 Manchester United AFB Financial Services Regional Partner 2013 2018 1.16 Manchester United Banif Financial Services Regional Partner 2013 2017 0.12 Manchester United China Construction Bank Financial Services Regional Partner 2013 2016 1.16 Manchester United Commercial Bank of Qatar Financial Services Regional Partner 2013 2018 1.54 Manchester United Denizbank Financial Services Regional Partner 2012 2016 0.92 Manchester United Ekspres Bank Financial Services Regional Partner 2013 2017 0.62 Manchester United Eurobank Financial Services Regional Partner 2014 2018 0.77 Manchester United Invex Financial Services Regional Partner 2013 2017 1.31 Manchester United NBD Bank Financial Services Regional Partner 2013 2018 1.54 Manchester United Unilever FMCG Regional Partner 2013 2016 1.54 Manchester United EuroFood Food Regional Partner 2014 2017 1.54 Manchester United Manda Food Regional Partner 2013 2018 0.54 Manchester United Ottogi Food Regional Partner 2014 0.77 Manchester United True Visions Media Regional Partner 2013 2016 0.62 Manchester United Cho-A Pharm Healthcare Regional Partner 2014 1.16 Manchester United Gloops Social Gaming Regional Partner 2013 0.77 Manchester United Kagome Soft Drinks Regional Partner 2012 2016 1.54 Manchester United Pepsi Soft Drinks Regional Partner 2013 1.16 Manchester United Wahaha Soft Drinks Regional Partner 2013 2016 1.16

European Premier Football September 1, 2014

Table 13i. English Premier League sponsors by club: Manchester United Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Manchester United Bakcell Telecommunications Regional Partner 2012 1.54 Manchester United Globacom Telecommunications Regional Partner 2009 2014 1.23 Manchester United Globul Telecommunications Regional Partner 2012 2015 0.39 Manchester United TM Telecommunications Regional Partner 2010 2015 1.00 Manchester United TrueMove H Telecommunications Regional Partner 2013 2016 0.62 Manchester United Viva Telecommunications Regional Partner 2011 2016 0.62 Manchester United Viva Telecommunications Regional Partner 2011 2016 0.62 Manchester United ZONG Telecommunications Regional Partner 2011 2014 0.77 Manchester United Aon Financial Services Tier 2 Sponsor 2013 2021 19.25 Manchester United Aeroflot Airline Tier 3 Sponsor 2013 2018 3.08 Manchester United Aperol Alcohol Tier 3 Sponsor 2014 2017 2.31 Manchester United Casillero del Diablo Alcohol Tier 3 Sponsor 2013 2.54 Manchester United Singha Alcohol Tier 3 Sponsor 2013 2016 2.54 Manchester United Yanmar Automotive Tier 3 Sponsor 2012 2015 1.54 Manchester United Kansai Construction Products Tier 3 Sponsor 2013 2016 2.31 Manchester United Toshiba Consumer Electronics Tier 3 Sponsor 2012 2018 0.92 Manchester United Epson Digital imaging Tier 3 Sponsor 2012 2015 1.93 Manchester United Nissin Food Tier 3 Sponsor 2014 2.31 Manchester United Bwin Gambling Tier 3 Sponsor 2012 2015 1.93 Manchester United Hong Kong Jockey Club Leisure Tier 3 Sponsor 2012 2015 0.36 Manchester United DHL Logistics Tier 3 Sponsor 2013 6.16 Manchester United STC Telecommunications Tier 3 Sponsor 2013 2018 3.85 Manchester United Bulova Time Keeping Tier 3 Sponsor 2013 2016 3.08

European Premier Football September 1, 2014

Table 13j. English Premier League sponsors by club: Newcastle United / QPR / Southampton Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Newcastle United Wonga.com Financial Services Primary Club Sponsor 2012 2015 10.00 Newcastle United Carling Alcohol Tier 2 Sponsor 0.46 Newcastle United Pulman Automotive Tier 2 Sponsor 0.15 Newcastle United Papa Johns Food Tier 2 Sponsor 2014 0.23 Newcastle United 138.com Gambling Tier 2 Sponsor 2013 0.31 Thomas Cook Newcastle United Sport Leisure Tier 2 Sponsor 2013 0.19 Newcastle United EA Sports Video Gaming Tier 2 Sponsor 0.19 Queens Park Rangers AirAsia Airline Primary Club Sponsor 2014 2015 2.50 Queens Park Rangers Carlsberg Alcohol Tier 2 Sponsor 0.23 Queens Park Rangers BetVictor Gambling Tier 2 Sponsor 0.15 Queens Park Rangers ASR Logistics Logistics Tier 2 Sponsor 2014 2015 0.23 Queens Park Rangers Caterham F1 Motorsport Tier 2 Sponsor 0.00 Queens Park Rangers EQ8 Soft Drinks Tier 2 Sponsor 0.08 Queens Park Rangers Tune Talk Media Tier 2 Sponsor 2010 2015 0.08 Southampton Veho Consumer Electronics Primary Club Sponsor 2014 2016 1.31 Southampton SBOBet Gambling Regional Partner 2013 0.15 Southampton Carling Alcohol Tier 2 Sponsor 0.19 Southampton William Hill Gambling Tier 2 Sponsor 2014 0.19 Southampton Garmin IT Tier 2 Sponsor 2014 0.15 Southampton Sunseeker Motor Yachts Tier 2 Sponsor 2012 2015 0.15 Southampton Eterna Time Keeping Tier 2 Sponsor 2013 0.15 Southampton Solent University Education Tier 3 Sponsor 2013 0.08

European Premier Football September 1, 2014

Table 13k. English Premier League sponsors by club: Stoke City / Sunderland / Swansea City Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Stoke City Britannia Financial Services Naming Rights 2016 1.25 Stoke City Bet365 Gambling Primary Club Sponsor 2012 2014 3.75 Stoke City Carlsberg Alcohol Tier 2 Sponsor 2014 2017 0.23 Stoke City Marston's Alcohol Tier 2 Sponsor 0.15 Stoke City Q-railing Construction Products Tier 2 Sponsor 0.09 Staffordshire Stoke City University Education Tier 2 Sponsor 0.08 Stoke City DPD Logistics Tier 2 Sponsor 2013 0.21 Stoke City Novuss Property Tier 2 Sponsor 0.09 Sports Stoke City Skins Clothing/Equipment Tier 2 Sponsor 2014 2017 0.08 Sunderland Bidvest Food Primary Club Sponsor 2013 2015 6.25 Sunderland TLC88 Gambling Regional Partner 2014 2017 0.08 Sunderland South African Airways Airline Tier 2 Sponsor 2014 2015 0.12 Sunderland Heineken Alcohol Tier 2 Sponsor 0.18 Sunderland Bet365 Gambling Tier 2 Sponsor 0.19 Sunderland Kitbag Retail Tier 2 Sponsor 2012 0.12 Sunderland Visit Tanzania Tourism Tier 2 Sponsor 2014 0.12 Swansea City Liberty Property Naming Rights 2005 2015 0.63 Swansea City GWFX Financial Services Primary Club Sponsor 2014 2016 2.31 Swansea City SBOBet Gambling Regional Partner 2013 2014 0.08 Swansea City Carlsberg Alcohol Tier 2 Sponsor 0.15 Swansea City LG Consumer Electronics Tier 2 Sponsor 2013 2014 0.15 Swansea City Bet365 Gambling Tier 2 Sponsor 0.15 Swansea City Peter Lynn Partners Legal Tier 2 Sponsor 0.09 Swansea City Eteach Recruitment Tier 2 Sponsor 2014 2016 0.09

European Premier Football September 1, 2014

Table 13l. English Premier League sponsors by club: Tottenham / WBA / West Ham Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Tottenham Hotspur AIA Financial Services Primary Club Sponsor 2014 2015 20.56 Tottenham Hotspur Carlsberg Alcohol Tier 2 Sponsor 2012 2015 1.93 Tottenham Hotspur Bosideng Fashion Tier 2 Sponsor 0.62 Tottenham Hotspur Marathonbet Gambling Tier 2 Sponsor 2014 2016 1.00 Tottenham Hotspur Thomas Cook Sport Leisure Tier 2 Sponsor 2014 0.31 Tottenham Hotspur EA Sports Video Gaming Tier 2 Sponsor 0.62 West Bromwich Albion Intuit QuickBooks IT Primary Club Sponsor 2014 2015 1.31 West Bromwich Albion 666BET Gambling Regional Partner 2014 0.12 West Bromwich Albion Jack Wolfskin Fashion Tier 2 Sponsor 2014 2015 0.11 West Bromwich Albion Bet365 Gambling Tier 2 Sponsor 2014 2016 0.19 West Bromwich Albion FCL Logistics Tier 2 Sponsor 2013 2015 0.09 University of West Bromwich Albion Wolverhamption Education Tier 3 Sponsor 0.08 West Ham United Alpari Financial Services Primary Club Sponsor 2014 2017 3.75 West Ham United Bet365 Gambling Regional Partner 2014 0.08 West Ham United SBOBet Gambling Regional Partner 2013 0.12 West Ham United Carlsberg Alcohol Tier 2 Sponsor 0.27 West Ham United Apsley Fashion Tier 2 Sponsor 2010 0.08 West Ham United Marathonbet Gambling Tier 2 Sponsor 2014 0.31 West Ham United Lycamobile Telecommunications Tier 2 Sponsor 2013 2015 0.15

European Premier Football September 1, 2014

GERMANY – BUNDESLIGA

BUNDESLIGA - EUROPE’S MOST MATURE MARKET?

Until recently the average primary shirt deal in the Bundesliga was the highest in Europe and club secondary deals outstripped those in the English Premiership. It is only the English Premier League’s vast international appeal, boosting major club rights values, that has kept the Bundesliga clubs in second place overall.

With such respected sports marketing companies as SportFive and Infront working on behalf of many German clubs, the sponsorship sales, management and client support tends to be very professional and relationships with industry are more stable. Indeed there is a growing trend among German clubs of sponsors actually buying stakes in the club. Bayer Leverkusen has been owned by Bayer AG since its inception and likewise, Volkswagen has owned Wolfsburg since the 1940s, whereas Audi, Adidas and Allianz have more recently taken stakes in Bayern Munich and Evonik in Borussia Dortmund.

Germany arguably has only one ‘mega club’, in Bayern Munich, but those immediately below now have big, modern stadia and high levels of support. The Bundesliga tops the European attendance league and looks likely to do so for the foreseeable future.

These factors have helped such clubs as Schalke 04 and Dortmund in particular to realise healthy sponsorship fees.

Table 14. German Bundesliga sponsorship revenue by club (€m) Club Total Average No of % of income deal deals league (€m) value total (€m) Bayern Munich 82.05 3.28 25 26.17% Schalke 04 34.12 2.62 13 10.88% Borussia Dortmund 31.95 2.13 15 10.19% Hamburger SV 21.25 1.93 11 6.78% Werder Bremen 17.85 0.94 19 5.69% VFL Wolfsburg 16.85 1.87 9 5.37% Eintracht Frankfurt 16.05 0.76 21 5.12% VfB Stuttgart 15.29 1.53 10 4.88% Hannover 96 11.20 1.60 7 3.57% FC Köln 10.79 1.35 8 3.44% Borussia Mönchengladbach 10.13 1.69 6 3.23% 1. FSV Mainz 05 9.44 1.57 6 3.01% Hertha Berlin 8.19 0.74 11 2.61% 1899 Hoffenheim 7.95 0.99 8 2.54% Bayer Leverkusen 7.76 0.86 9 2.48% FC Augsburg 6.39 0.53 12 2.04% SC Freiburg 4.78 0.68 7 1.52% SC Paderborn 1.47 0.21 7 0.47%

European Premier Football September 1, 2014

What is interesting to note, however, is that overall, the small and medium-sized clubs also earn significant revenues from sponsorship. On average their income is greater than equivalents in any other European league and the differential between relatively small and relatively large clubs is not the chasm seen in England and Spain. Indeed the overall distribution of wealth among clubs in Germany is more even than in other countries and this has arguably led to a more competitive league and the higher attendances discussed.

That said, Bayern Munich is significantly out in front and its revenues could well grow at an increased pace. The club has recently opened a New York office to promote its interests internationally and having recently won the Champions League, and with Pep Guardiola’s exciting team still developing, global interest is likely to increase.

Bayern’s key partner is Deutsche Telekom, a long-term sponsor which pays €30m per year for its rights. Major deals with Allianz, Audi, Bwin and DHL among others have pushed overall sponsorship revenue to an estimated €82m per year.

Table 15. German Bundesliga sponsorship revenue by type Bundesliga Total deal Average No of value (€m) deal value deals (€m) Naming Rights 37.77 2.91 13 Primary Club Sponsor 139.65 7.76 18 Tier 2 Sponsor 79.27 0.78 101 Tier 3 Sponsor 41.80 0.91 46 Tier 4 Sponsor 14.82 0.59 25 Tier 5 Sponsor 0.20 0.20 1 Grand Total 313.51 1.54 204

Naming rights is an important element of Bundesliga sponsorship with 13 deals. The driver was the 2006 FIFA World Cup, which required a major investment in new and refurbished stadia. This presented an opportunity to sell naming rights and several major deals were signed – most notably Allianz (Bayern Munich), Veltins (Schalke 04), Signal Iduna (Dortmund) and Imtech (Hamburger).

Chart 9. German Bundesliga sponsorship revenue by type (%) Tier 4 Sponsor Tier 5 Sponsor 5% 0% Naming Rights 12% Tier 3 Sponsor 13%

Primary Club Sponsor Tier 2 Sponsor 45% 25%

European Premier Football September 1, 2014

BUNDESLIGA SPONSORSHIP BY INDUSTRY

Table 16. German Bundesliga sponsorship revenue by industry Industry Total Average No of spend deal deals (€m) value (€m) Financial Services 47.97 2.00 24 Automotive 40.52 2.25 18 Telecommunications 34.16 5.69 6 Energy 29.61 2.96 10 Alcohol 18.84 1.11 17 Airline 17.43 2.49 7 Food 16.01 1.60 10 Chemicals 14.86 7.43 2 IT 14.60 2.92 5 Gambling 14.17 0.83 17

The profile of Bundesliga sponsorship by industry follows a broadly typical northern European pattern. Financial services is the biggest investor with major deals including Postbank (Borussia Mönchengladbach), Mercedes-Benz Bank (Stuttgart), Allianz (Bayern Munich), Signal Iduna (Borussia Dortmund) and Coface (Mainz) to name but a few.

Given the strength of Germany’s car industry, it is no surprise to see the sector placed second in terms of overall investment. Most of the clubs have a car industry sponsor with Audi, Volkswagen and Opel the leading brands in terms of deal numbers. The biggest shirt deal however, (aside from Volkswagen’s support for Wolfsburg), is Alfa Romeo’s €6m investment in Eintracht Frankfurt – the only significant sponsorship held by the FIAT subsidiary in European soccer.

The German energy and chemical sectors are also strong and again this is reflected in the sponsorship table. Half of Bundesliga clubs have energy sponsorships and it is interesting to note that the renewable element here is high with five deals from the likes of Yingli Solar (Bayern Munich), Entega (Mainz), Wirsol (Hoffenheim), LEW (Augsburg) and Mage Solar (Freiburg)

The German chemical industry is the strongest in Europe with the likes of BASF and Bayer AG among the major multi-national players, Bayer owns the Leverkusen club and Henkel has a fourth tier deal with Bayern Munich. The biggest deal, however, is Evonik’s primary shirt sponsorship with Borussia Dortmund at just under €14m p.a.

Although Germany has no ‘mega’ airline deals, the sector is quite active with Lufthansa, Turkish, Germania having secondary deals and Emirates holding primary rights with Hamburg at €10m per year.

Food is a big sector by deal numbers and value. The biggest deal is Wiesenhof’s €7m primary deal with Werder Bremen followed by similar rights held by Ehrmann with Freiburg.

German clubs have the highest level of IT investment in Europe with SAP having a €4.9m primary shirt deal with Hoffenheim and a tier three deal with Bayern Munich, whereas Imtech holds the naming rights to Hamburg’s stadium. Such deals underline the business maturity in German soccer. IT relationships deliver more than just cash, they help the clubs to manage their information and business infrastructure and deliver good B2B opportunities for sponsors. This means that sponsors

European Premier Football September 1, 2014 invite their clients to the stadia to showcase the work, which helps the clubs to develop relationships with a wider section of the business community.

Chart 10. German Bundesliga sponsorship revenue by industry by value

Other Gambling IT Chemicals Food Airline Alcohol Energy Telecommunications Automotive Financial Services

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Chart 11. German Bundesliga sponsorship revenue by industry by number of deals

Other Gambling IT Chemicals Food Airline Alcohol Energy Telecommunications Automotive Financial Services

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European Premier Football September 1, 2014

Table 17. German Bundesliga major sponsorship spend by company Company Total Average No of spend deal value deals (€m) (€m)

Deutsche Telekom 30.62 15.31 2 Gazprom 16.56 16.56 1 Volkswagen 16.54 3.31 5 Evonik 13.86 13.86 1 Audi 12.47 2.49 5 Emirates 10.36 10.36 1 SAP 8.75 4.38 2 Mercedes-Benz Bank 7.32 7.32 1 Wiesenhof 6.93 6.93 1 Rewe 6.78 2.26 3 Postbank 6.50 6.50 1 Veltins 6.27 3.14 2 Heinz von Heiden 6.16 6.16 1 Alfa Romeo 6.00 6.00 1 Allianz 6.00 6.00 1 LG 5.08 5.08 1 Signal Iduna 5.00 5.00 1 Imtech 4.62 4.62 1 Yingli Solar 4.62 4.62 1 HypoVereinsbank 4.54 4.54 1

Tables 17 and 18 demonstrate that German sponsorship is primarily accounted for by German companies. Obviously the likes of Gazprom, Emirates, Alfa Romeo, LG and Yingli Solar are foreign investors, but compared to other leagues in Europe, such investment is low.

This is partly a result of the strength of the German economy and the large number of multi-national companies with sufficient marketing budget based in the country.

Another reason is that Bundesliga clubs have not yet sold their rights on a regional basis in, for example, the Middle East and Asia as has been achieved by leading English, Spanish and French clubs.

The Bundesliga has not yet developed its international reputation to the same extent that first Serie A, then the English Premier League and La Liga has. As such global TV exposure is not so big and the international demand for access to German clubs is smaller. Following the recent success of Bayern Munich and Germany’s 2014 World Cup victory, this is likely to change gradually, but until the clubs recruit the world’s biggest stars, such as the likes of Messi or Ronaldo, the process is likely to remain slow and will be reflected in the Bundesliga’s sponsorship profile.

European Premier Football September 1, 2014

Table 18. German Bundesliga source of sponsorship spend by company HQ Country Total Average No of % of spend deal deals league (€m) value total (€m) Germany 229.57 1.51 152 73.22% Russia 16.56 16.56 1 5.28% Dubai 10.36 10.36 1 3.31% Italy 7.54 2.51 3 2.41% China 7.47 1.87 4 2.38% South Korea 6.16 2.05 3 1.96% Netherlands 5.54 2.77 2 1.77% Malta 5.43 0.60 9 1.73% France 5.13 1.71 3 1.63% USA 4.95 0.62 8 1.58% Gibraltar 3.08 3.08 1 0.98% Turkey 2.62 1.31 2 0.84% Japan 1.86 0.62 3 0.59% Switzerland 1.62 0.81 2 0.52% Austria 1.19 0.40 3 0.38% Belgium 1.16 1.16 1 0.37% UK 1.16 0.58 2 0.37% US 0.92 0.92 1 0.29% Spain 0.89 0.45 2 0.28% Cyprus 0.31 0.31 1 0.10%

European Premier Football September 1, 2014

Table 19a. German Bundesliga sponsors by club: Mainz / Hoffenheim / Leverkusen Value P.A. Rights Holder Company Industry Sector Status Start End (€m) 1. FSV Mainz 05 Coface Financial Services Naming Rights 2011 3.00 1. FSV Mainz 05 Entega Energy Primary Club Sponsor 2012 2017 2.89 1. FSV Mainz 05 Lotto Rheinland-Pfalz Gambling Tier 2 Sponsor 2014 2017 1.27 1. FSV Mainz 05 Urano IT Tier 2 Sponsor 0.92 1. FSV Mainz 05 Bitburger Alcohol Tier 3 Sponsor 2013 2016 0.75 1. FSV Mainz 05 Opel Automotive Tier 3 Sponsor 2012 2015 0.62 1899 Hoffenheim Wirsol Energy Naming Rights 2014 2016 1.20 1899 Hoffenheim SAP IT Primary Club Sponsor 2013 2016 4.90 1899 Hoffenheim Bitburger Alcohol Tier 2 Sponsor 0.31 1899 Hoffenheim Audi Automotive Tier 2 Sponsor 2014 2016 0.31 1899 Hoffenheim Sparkasse Heidelberg Financial Services Tier 2 Sponsor 0.31 1899 Hoffenheim Union Investment Financial Services Tier 2 Sponsor 0.31 1899 Hoffenheim Tipico Gambling Tier 2 Sponsor 2014 2015 0.31 1899 Hoffenheim AOK Health Insurance Tier 2 Sponsor 0.31 Bayer Leverkusen LG Consumer Electronics Primary Club Sponsor 2013 2016 5.08 Bayer Leverkusen Opel Automotive Tier 2 Sponsor 2012 2014 0.39 Bayer Leverkusen Lloyd Shoes Fashion Tier 2 Sponsor 0.31 Bayer Leverkusen DEVK Financial Services Tier 2 Sponsor 2013 2015 0.31 Bayer Leverkusen EZ Trader Financial Services Tier 2 Sponsor 0.31 Sparkasse Bayer Leverkusen Leverkusen Financial Services Tier 2 Sponsor 2013 2016 0.31 Bayer Leverkusen HappyBet Gambling Tier 2 Sponsor 2013 2014 0.52 Bayer Leverkusen Pronova BKK Health Insurance Tier 2 Sponsor 2014 2016 0.26 Bayer Leverkusen Bitburger Alcohol Tier 3 Sponsor 2012 2015 0.28

European Premier Football September 1, 2014

Table 19b. German Bundesliga sponsors by club: Bayern Munich Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Bayern Munich Allianz Financial Services Naming Rights 2014 2041 6.00 Bayern Munich Deutsche Telekom Telecommunications Primary Club Sponsor 2012 2017 30.00 Bayern Munich Audi Automotive Tier 2 Sponsor 2011 2016 7.70 Bayern Munich Lufthansa Airline Tier 3 Sponsor 2013 2017 2.70 Bayern Munich Paulaner Alcohol Tier 3 Sponsor 2012 2016 3.08 Bayern Munich Yingli Solar Energy Tier 3 Sponsor 2011 2014 4.62 Bayern Munich HypoVereinsbank Financial Services Tier 3 Sponsor 2012 2016 4.54 Bayern Munich Bwin Gambling Tier 3 Sponsor 3.08 Bayern Munich SAP IT Tier 3 Sponsor 2014 2017 3.85 Bayern Munich DHL Logistics Tier 3 Sponsor 2014 2020 3.85 Bayern Munich Man Automotive Tier 4 Sponsor 0.92 Bayern Munich Henkel Chemicals Tier 4 Sponsor 2014 2015 1.00 Bayern Munich Siemens Consumer electricals Tier 4 Sponsor 0.92 Bayern Munich Philips Consumer Electronics Tier 4 Sponsor 2014 2017 0.92 Bayern Munich Schaeffler Engineering Tier 4 Sponsor 0.92 Bayern Munich Giorgio Armani Fashion Tier 4 Sponsor 2014 2017 0.92 Bayern Munich Schöller Food Tier 4 Sponsor 0.92 Bayern Munich Thomas Sabo Jewellery Tier 4 Sponsor 0.77 Bayern Munich Starwood Leisure Tier 4 Sponsor 2013 2016 0.92 Bayern Munich Bayern 3 Media Tier 4 Sponsor 0.15 Bayern Munich Flyeralarm Printing Tier 4 Sponsor 0.77 Bayern Munich Adelholzener Soft Drinks Tier 4 Sponsor 0.77 Bayern Munich Coca-Cola Soft Drinks Tier 4 Sponsor 2013 2016 1.16 Bayern Munich Hublot Time Keeping Tier 4 Sponsor 0.92 Bayern Munich Trentino Tourism Tier 4 Sponsor 0.62

European Premier Football September 1, 2014

Table 19c. German Bundesliga sponsors by club: Dortmund / Borussia Mönchengladbach Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Borussia Dortmund Signal Iduna Financial Services Naming Rights 2012 2021 5.00 Borussia Dortmund Evonik Chemicals Primary Club Sponsor 2014 2025 13.86 Borussia Dortmund Turkish Airlines Airline Tier 2 Sponsor 2013 2016 2.00 Borussia Dortmund Brinkhoff's Alcohol Tier 2 Sponsor 2013 2020 0.77 Borussia Dortmund Opel Automotive Tier 2 Sponsor 2012 1.16 Borussia Dortmund Hankook Automotive Products Tier 2 Sponsor 2013 2015 0.77 Borussia Dortmund Sparda-Bank Financial Services Tier 2 Sponsor 1.54 Borussia Dortmund Sprehe Food Tier 2 Sponsor 1.54 Borussia Dortmund Unitymedia Media Tier 2 Sponsor 2014 1.93 Borussia Dortmund Flyeralarm Printing Tier 2 Sponsor 2012 2015 0.46 Borussia Dortmund Wilo Pumps Tier 2 Sponsor 0.92 Borussia Dortmund Huawei Telecommunications Tier 2 Sponsor 2013 0.77 Borussia Dortmund West Lotto Gambling Tier 3 Sponsor 0.77 Borussia Dortmund Rewe Retail Tier 3 Sponsor 2014 2016 0.16 Borussia Dortmund Burg-Wächter Security Tier 4 Sponsor 2012 2014 0.30 Borussia Mönchengladbach Postbank Financial Services Primary Club Sponsor 2014 2020 6.50 Borussia Mönchengladbach Bitburger Alcohol Tier 2 Sponsor 2011 2016 0.92 Borussia Mönchengladbach Audi Automotive Tier 2 Sponsor 2012 2018 1.16 Borussia Mönchengladbach Kyocera Digital imaging Tier 2 Sponsor 2014 0.40 Borussia Mönchengladbach Santander Financial Services Tier 2 Sponsor 2012 2017 0.69 Borussia Mönchengladbach Böklunder Food Tier 2 Sponsor 0.46

European Premier Football September 1, 2014

Table 19d. German Bundesliga sponsors by club: Eintracht Frankfurt Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Eintracht Frankfurt Commerzbank Financial Services Naming Rights 2005 2015 3.00 Eintracht Frankfurt Alfa Romeo Automotive Primary Club Sponsor 2013 2016 6.00 Eintracht Frankfurt Krombacher Alcohol Tier 2 Sponsor 2012 2017 0.62 Eintracht Frankfurt Mainova Energy Tier 2 Sponsor 2014 2016 0.39 Deutsche Familienversicherung Eintracht Frankfurt AG Financial Services Tier 2 Sponsor 2013 2016 0.50 Eintracht Frankfurt Hessische Landesbank Financial Services Tier 2 Sponsor 0.46 Eintracht Frankfurt Lotto Hessen Gambling Tier 2 Sponsor 2012 0.39 Eintracht Frankfurt Deutsche Bahn Transport Tier 2 Sponsor 2013 2015 0.50 Eintracht Frankfurt Fraport Transport Tier 2 Sponsor 0.31 Eintracht Frankfurt Lufthansa Airline Tier 3 Sponsor 2014 2019 1.00 Eintracht Frankfurt Nexen Tire Automotive Products Tier 3 Sponsor 2013 0.31 Eintracht Frankfurt IDL IT Tier 3 Sponsor 2012 2014 0.31 Eintracht Frankfurt Frankfurter Neue Press Media Tier 3 Sponsor 0.15 Eintracht Frankfurt hr 3 Media Tier 3 Sponsor 0.15 Eintracht Frankfurt Trifels Verlag Publishing Tier 3 Sponsor 0.15 Eintracht Frankfurt Rewe Retail Tier 3 Sponsor 2013 0.62 Eintracht Frankfurt Zeilgalerie Retail Tier 3 Sponsor 0.23 Eintracht Frankfurt Coca-Cola Soft Drinks Tier 3 Sponsor 2013 0.39 Eintracht Frankfurt Rosbacher Soft Drinks Tier 3 Sponsor 2012 2014 0.20 Eintracht Frankfurt RMV Transport Tier 3 Sponsor 0.23 Eintracht Frankfurt VGF Transport Tier 3 Sponsor 0.15

European Premier Football September 1, 2014

Table 19e. German Bundesliga sponsors by club: Augsburg / Köln Value P.A. Rights Holder Company Industry Sector Status Start End (€m) FC Augsburg SGL Carbon Industrial Naming Rights 2011 2017 1.00 FC Augsburg AL-KO Automotive Products Primary Club Sponsor 2013 2015 2.00 FC Augsburg Brauhaus Riegele Alcohol Tier 2 Sponsor 2012 0.31 FC Augsburg Sortimo Automotive Products Tier 2 Sponsor 2012 2017 0.50 FC Augsburg Roma Construction Products Tier 2 Sponsor 0.31 FC Augsburg LEW Energy Tier 2 Sponsor 0.31 FC Augsburg Kuka Engineering Tier 2 Sponsor 0.31 FC Augsburg VR-Bank Financial Services Tier 2 Sponsor 2013 2016 0.35 FC Augsburg Lotto Bayern Gambling Tier 2 Sponsor 2013 0.39 FC Augsburg Dehner Retail Tier 2 Sponsor 0.31 FC Augsburg Segmüller Retail Tier 2 Sponsor 0.31 FC Augsburg SWA Utility Tier 2 Sponsor 2014 2017 0.31 FC Köln RheineEnergie Energy Naming Rights 2014 2018 2.15 FC Köln Rewe Retail Primary Club Sponsor 2014 2018 6.00 FC Köln Turkish Airlines Airline Tier 2 Sponsor 0.62 FC Köln Gaffel Alcohol Tier 2 Sponsor 0.39 FC Köln Ford Automotive Tier 2 Sponsor 2014 2015 0.69 FC Köln Betsafe Gambling Tier 2 Sponsor 2013 2014 0.25 FC Köln Rimowa Luggage Tier 2 Sponsor 0.31 FC Köln Sparhandy Telecommunications Tier 2 Sponsor 0.39

European Premier Football September 1, 2014

Table 19f. German Bundesliga sponsors by club: Hamburger / Hannover 96 Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Hamburger SV Imtech IT Naming Rights 2010 2016 4.62 Hamburger SV Emirates Airline Primary Club Sponsor 2012 2015 10.36 Hamburger SV Holsten Alcohol Tier 2 Sponsor 0.77 Hamburger SV Audi Automotive Tier 2 Sponsor 2012 1.00 Hamburger SV Sparda-Bank Financial Services Tier 2 Sponsor 0.62 Hamburger SV Tipico Gambling Tier 2 Sponsor 2013 2016 1.30 Techniker Hamburger SV Krankenkasse Health Insurance Tier 2 Sponsor 0.62 Hamburger SV Grand Elysee Leisure Tier 2 Sponsor 0.62 Hamburger SV NDR2 Media Tier 2 Sponsor 2014 0.12 Hamburger SV Cewe Printing Tier 2 Sponsor 0.62 Hamburger SV Deutsche Telekom Telecommunications Tier 2 Sponsor 2013 2017 0.62 Hannover 96 HDI Gerling Financial Services Naming Rights 2013 2013 2.80 Hannover 96 Heinz von Heiden Construction Primary Club Sponsor 2014 2017 6.16 Hannover 96 Volkswagen Automotive Tier 2 Sponsor 0.54 Hannover 96 Continental Automotive Products Tier 2 Sponsor 2012 2015 0.60 Hannover 96 Admiral Bet Gambling Tier 2 Sponsor 2013 2015 0.46 Hannover 96 AOK Health Insurance Tier 2 Sponsor 2012 2016 0.54 Hannover 96 NDR2 Media Tier 2 Sponsor 2014 0.10

European Premier Football September 1, 2014

Table 19g. German Bundesliga sponsors by club: Hertha / Freiburg / Paderborn Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Hertha Berlin Deutsche Bahn Transport Primary Club Sponsor 2013 2015 2.25 Hertha Berlin Warsteiner Alcohol Tier 2 Sponsor 2013 1.08 Hertha Berlin Audi Automotive Tier 2 Sponsor 2013 2016 2.31 Hertha Berlin Berliner Volksbank Financial Services Tier 2 Sponsor 0.39 Hertha Berlin Direct Line Financial Services Tier 2 Sponsor 2013 2015 0.39 Hertha Berlin X-TiP Gambling Tier 2 Sponsor 0.39 Hertha Berlin AOK Health Insurance Tier 2 Sponsor 0.39 Hertha Berlin 94.3rs2 Media Tier 2 Sponsor 0.09 Hertha Berlin Coca-Cola Soft Drinks Tier 2 Sponsor 0.39 Hertha Berlin Germania Airline Tier 3 Sponsor 2014 0.15 Hertha Berlin Lotto Berlin Gambling Tier 3 Sponsor 2013 2016 0.39 SC Freiburg Mage Solar Energy Naming Rights 2012 0.50 SC Freiburg Ehrmann Food Primary Club Sponsor 2013 2016 2.50 SC Freiburg Rothaus Alcohol Tier 2 Sponsor 2014 2017 0.50 SC Freiburg RAFI Engineering Tier 2 Sponsor 2014 0.46 SC Freiburg Tipico Gambling Tier 2 Sponsor 0.15 SC Freiburg Europa-Park Leisure Tier 2 Sponsor 2014 2016 0.20 SC Freiburg Lexware Publishing Tier 2 Sponsor 0.46 SC Paderborn Benteler Automotive Products Naming rights 2012 2017 0.50 SC Paderborn kfzteile24 Automotive Primary Club Sponsor 2013 2015 0.35 SC Paderborn Finke Retail Tier 2 Sponsor 0.15 SC Paderborn Warsteiner Alcohol Tier 3 Sponsor 0.12 SC Paderborn Bremer AG Construction Tier 3 Sponsor 0.12 SC Paderborn RLS Jakobsmayer Marketing Tier 3 Sponsor 0.12 SC Paderborn Westfalen-Blatt Media Tier 3 Sponsor 0.12

European Premier Football September 1, 2014

Table 19h. German Bundesliga sponsors by club: Schalke / Stuttgart Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Schalke 04 Veltins Alcohol Naming Rights 2014 2018 5.50 Schalke 04 Gazprom Energy Primary Club Sponsor 2012 2017 16.56 Schalke 04 Volkswagen Automotive Tier 2 Sponsor 2012 2016 2.00 Schalke 04 Hisense Domestic appliances Tier 2 Sponsor 2014 2017 1.08 Schalke 04 Ergo Financial Services Tier 2 Sponsor 2012 2015 1.16 Schalke 04 Böklunder Food Tier 2 Sponsor 2014 2017 1.16 Schalke 04 Tillman's Food Tier 2 Sponsor 1.08 Schalke 04 bet-at-home.com Gambling Tier 2 Sponsor 2013 2016 2.00 Schalke 04 Coca-Cola Soft Drinks Tier 2 Sponsor 2013 2016 1.10 Schalke 04 Huawei Telecommunications Tier 2 Sponsor 2014 2015 1.00 Schalke 04 Condor Airline Tier 3 Sponsor 2014 2015 0.60 Meliá Hotels Schalke 04 International Leisure Tier 3 Sponsor 2014 2016 0.20 Schalke 04 Bauhaus Retail Tier 3 Sponsor 2014 2015 0.70 VfB Stuttgart Mercedes-Benz Bank Financial Services Primary Club Sponsor 2014 2017 7.32 VfB Stuttgart Krombacher Alcohol Tier 2 Sponsor 2011 2016 1.54 VfB Stuttgart Mercedes Automotive Tier 2 Sponsor 2011 2017 1.39 VfB Stuttgart Fanuc Industrial Tier 2 Sponsor 2014 2016 1.08 VfB Stuttgart Würth Wholesaler Tier 2 Sponsor 2014 2016 1.50 VfB Stuttgart EnBW Energy Tier 3 Sponsor 0.62 VfB Stuttgart Gazi Food Tier 3 Sponsor 2012 0.58 VfB Stuttgart Inter Wetten Gambling Tier 3 Sponsor 2014 0.58 VfB Stuttgart Kärcher Pressure washers Tier 3 Sponsor 0.58 VfB Stuttgart Total Oil Tier 4 Sponsor 2012 2014 0.13

European Premier Football September 1, 2014

Table 19i. German Bundesliga sponsors by club: VFL Wolfsburg Value P.A. Rights Holder Company Industry Sector Status Start End (€m) VFL Wolfsburg Volkswagen Automotive Naming Rights 2.50 VFL Wolfsburg Volkswagen Automotive Primary Club Sponsor Permanent 10.00 VFL Wolfsburg Cashpoint Gambling Tier 2 Sponsor 2012 2015 1.00 VFL Wolfsburg Castrol Oil Tier 2 Sponsor 0.77 VFL Wolfsburg Veltins Alcohol Tier 3 Sponsor 2013 2016 0.77 VFL Wolfsburg Ate Automotive Products Tier 3 Sponsor 2013 2016 0.77 Consumer VFL Wolfsburg Panasonic Electronics Tier 3 Sponsor 0.39 Volkswagen Financial VFL Wolfsburg Services Financial Services Tier 3 Sponsor 0.39 VFL Wolfsburg Autostadt Leisure Tier 3 Sponsor 0.27

European Premier Football September 1, 2014

Table 19j. German Bundesliga sponsors by club: Werder Bremen Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Werder Bremen Wiesenhof Food Primary Club Sponsor 2014 2016 6.93 Werder Bremen ABInBev Alcohol Tier 2 Sponsor 2011 2016 1.16 Werder Bremen Volkswagen Automotive Tier 2 Sponsor 2013 2016 1.50 Werder Bremen Targobank Financial Services Tier 2 Sponsor 2011 2015 1.80 Werder Bremen Tipico Gambling Tier 2 Sponsor 2012 2015 0.92 Werder Bremen EWE Telecommunications Tier 2 Sponsor 1.39 Werder Bremen Hoyer Energy Tier 3 Sponsor 0.39 Werder Bremen Mondelēz Food Tier 3 Sponsor 0.62 Werder Bremen Ramada Leisure Tier 3 Sponsor 2013 0.39 Werder Bremen Cewe Printing Tier 3 Sponsor 2012 2015 0.80 Werder Bremen Friebel Food Tier 4 Sponsor 0.23 Werder Bremen Landmann Garden products Tier 4 Sponsor 2014 0.23 Werder Bremen AOK Health Insurance Tier 4 Sponsor 2013 2015 0.15 Werder Bremen Zillertal Leisure Tier 4 Sponsor 0.23 Werder Bremen Lloyd Shoes Fashion Tier 4 Sponsor 2014 2016 0.23 Werder Bremen BLG Logistics Logistics Tier 4 Sponsor 0.23 Werder Bremen Coca-Cola Soft Drinks Tier 4 Sponsor 0.23 Werder Bremen Vilsa Brunnen Soft Drinks Tier 4 Sponsor 0.23 Werder Bremen Baufix Construction products Tier 5 Sponsor 2014 0.20

European Premier Football September 1, 2014

SPAIN – LA LIGA

BIG TWO DOMINATE – CAN ATLETICO MAKE UP GROUND?

For the past 10 years, the Spanish giants Real Madrid and Barcelona have out-performed the rest of the La Liga financially to such an extent that other clubs barely stood a chance of competing on the pitch.

In 2013/14, a seismic shift occurred when Atletico Madrid won the championship and came within a whisker of beating their city rivals, Real, in the Champions League final. Atletico did this on a turnover of around €120m, compared to €519m for Real Madrid and €482m for Barcelona. To put that into context, Atletico were roughly on an economic level with Stuttgart, Napoli or fellow Spanish club Valencia.

Table 20. Spanish La Liga sponsorship revenue by club (€m) Club Total Average No of % of income deal value deals league (€m) (€m) total FC Barcelona 107.18 4.87 22 46% Real Madrid 78.19 6.01 13 33% Atletico Madrid 17.24 1.92 9 7% Deportivo la Coruna 4.99 0.45 11 2% Real Sociedad 4.47 0.89 5 2% Valencia CF 4.24 0.53 8 2% Athletic Club de Bilbao 2.92 0.58 5 1% Sevilla FC 2.89 0.48 6 1% Espanyol 1.82 0.36 5 1% Elche 1.67 0.21 8 1% Getafe CF 1.51 0.10 15 1% Granada 1.40 0.14 10 1% Celta Vigo 1.09 0.16 7 0% Almeria 0.74 0.09 8 0% Malaga 0.73 0.12 6 0% Rayo Vallecano 0.65 0.11 6 0% Cordoba 0.63 0.13 5 0% Villarreal CF 0.52 0.10 5 0% SD Eibar 0.42 0.06 7 0% Levante UD 0.18 0.05 4 0%

Table 20 considers Atletico’s position mainly in relation to its 2012/13 performance as the majority of its sponsorship deals were signed during that period. The success of 2013/14 has, however, led to new commercial interest in the club and will undoubtedly mean increased sponsorship revenue. As this report goes to press, Atletico signed Chinese handset manufacturer Huawei as a major tier 2 sponsor for a fee likely to exceed €2m.

The major story in Spain, however, is the success of Barcelona in attracting a series of large deals. The club has, unquestionably been the most entertaining and successful in world soccer over the past ten years. This is borne out by the fact that the club is poised to be the first to be the first to aggregate 100 million followers on social media channels Facebook, Twitter, YouTube and Google+.

European Premier Football September 1, 2014

Backing from Qatar, originally by the Qatar Foundation but then switched to the state airline, has brought in €36 million per year to the club which, until recently, had eschewed shirt sponsorship. More recently a creative sponsorship with Intel on the inside of the club’s playing strip (Intel Inside) added a further €4m p.a. and major deals with the likes of Audi, Beko, banking group La Caixa and beer brand Estrella Damm have pushed up secondary rights. Unlike Real Madrid, Barcelona has marketed its regional rights to such companies as Indosat (Indonesia) and United Arab Bank and propelled overall sponsorship to €107m per year, second only to Manchester United.

Real Madrid, despite its vast earnings, following and global brand, has not been so aggressive in the sponsorship market. Its main shirt deal, with Emirates, is marginally lower than Barcelona’s, but it has not developed the same level of tiered global or regional deals. The club is, however, believed to have contracts with major players in which it takes a share of image rights and this has helped it to drive overall commercial revenues to €211m per year.

Aside from Real Madrid, Barcelona and Atletico, sponsorship values drop off rapidly. Indeed several clubs have started recent seasons with no primary shirt deal and at the time of going to print, Levante and Valencia were in this position for 2014/15. This is partly the result of Spain having a much less developed sponsorship industry where there are fewer experts in marketing and a less welcoming culture of acceptance of commercial involvement. This also explains why there is only one naming rights partner in Spain at present (Power 8 and Espanyol), although there is a likelihood that naming rights could start to creep in as clubs re-develop stadia.

Table 21. Spanish La Liga sponsorship revenue by type Total deal Average deal No of value (€m) value (€m) deals Naming Rights 0.92 0.92 1 Primary Club Sponsor 87.98 4.88 18 Regional Partner 9.43 1.57 6 Tier 2 Sponsor 83.98 0.89 94 Tier 3 Sponsor 51.18 1.16 44 Grand Total 233.50 1.42 165

Chart 12. Spanish La Liga sponsorship revenue by type (%)

Naming Rights 0% Tier 3 Sponsor Primary Club 22% Sponsor 38%

Tier 2 Sponsor Regional 36% Partner 4%

European Premier Football September 1, 2014

LA LIGA SPONSORSHIP BY INDUSTRY

Table 22. Spanish La Liga sponsorship revenue by industry Industry Total Average No of spend deal deals (€m) value (€m) Airline 66.07 33.03 2 Financial Services 27.06 1.18 23 Automotive 21.31 1.94 11 Soft Drinks 17.53 0.80 22 Alcohol 16.79 0.84 20 Telecommunications 11.55 2.89 4 White Goods 9.24 9.24 1 National Promotion 8.00 8.00 1 Gambling 7.08 3.54 2 Consumer Electronics 5.06 1.69 3

With Barcelona and Real Madrid both having primary airline deals, it is not surprising that the sector leads in terms of overall industry investment. Financial services scores strongly mainly as a result of La Caixa’s nine deals with such leading clubs as Barcelona, Atletico Madrid, Valencia and Sevilla.

Likewise Coca-Cola is a major backer of La Liga having deals with 17 clubs including the top three.

The car industry is also a major investor although this is mainly down to Audi’s large secondary deals with Barcelona and Real Madrid; elsewhere the agreements are more commonly with dealerships than manufacturers.

Gambling has, in recent years, started to make headway in Spanish soccer sponsorship, but it hasn’t grown to the degree seen in most other European countries and its overall contribution has fallen since Real Madrid switched from Bwin to Emirates for its primary sponsorship.

Chart 13. Spanish La Liga sponsorship revenue by industry by value

Other Consumer Electronics Gambling National Promotion White Goods Telecommunications Alcohol Soft Drinks Automotive Financial Services Airline

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European Premier Football September 1, 2014

Most Spanish clubs have a beer sponsorship deal with Estrella Damm and Mahou being the most prominent brands.

Chart 14. Spanish La Liga sponsorship revenue by industry by number of deals

Other Consumer Electronics Gambling National Promotion White Goods Telecommunications Alcohol Soft Drinks Automotive Financial Services Airline

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Table 23. Spanish La Liga major sponsorship spend by company Total Average spend deal value No of Company (€m) (€m) deals Qatar Airways 36.19 36.19 1 Emirates 29.88 29.88 1 Audi 18.48 9.24 2 Coca-Cola 11.27 0.66 17 Beko 9.24 9.24 1 La Caixa 8.55 0.95 9 Azerbaijan 8.00 8.00 1 BBVA 7.70 7.70 1 Estrella Damm 7.32 1.83 4 Bwin 6.16 6.16 1 Mahou 5.14 1.03 5 Qbao.com 4.24 4.24 1 Intel 3.85 3.85 1 Gatorade 3.47 3.47 1 Maurice Lacroix 3.23 3.23 1 Allianz 3.08 3.08 1 IronFX 3.08 3.08 1 Stanley Black & Decker 3.08 3.08 1 STC 3.08 3.08 1 Etisalat 2.70 2.70 1 Panasonic 2.70 2.70 1

European Premier Football September 1, 2014

Table 24. Spanish La Liga source of sponsorship spend by company HQ Country Total Average No of % of spend deal deals league (€m) value total (€m) Spain 56.81 0.56 102 24.33% Qatar 36.19 36.19 1 15.50% Dubai 29.88 29.88 1 12.79% Germany 25.56 4.26 6 10.95% USA 23.20 1.10 21 9.94% Turkey 9.24 9.24 1 3.96% Azerbaijan 8.00 8.00 1 3.43% Gibraltar 6.16 6.16 1 2.64% China 4.62 2.31 2 1.98% Switzerland 3.28 1.64 2 1.40% Cyprus 3.08 3.08 1 1.32% Saudi Arabia 3.08 3.08 1 1.32% Italy 2.93 1.46 2 1.25% Japan 2.76 1.38 2 1.18% Abu Dhabi 2.70 2.70 1 1.15% Canada 2.46 1.23 2 1.06% South Korea 2.31 2.31 1 0.99% Thailand 2.12 2.12 1 0.91% Andorra 1.54 1.54 1 0.66% Indonesia 1.54 1.54 1 0.66% Malaysia 1.54 1.54 1 0.66% Sharjah 1.54 1.54 1 0.66% Peru 1.16 1.16 1 0.49% France 0.95 0.24 4 0.41% Mexico 0.62 0.62 1 0.26% Netherlands 0.13 0.07 2 0.06% Belgium 0.12 0.12 1 0.05%

In terms of where the money comes from, Spain itself leads with nearly a quarter of all deals by value, a similar amount to that spent by a handful of Gulf State companies on Real Madrid and Barcelona. Germany and the USA are the other major investors, mainly due to spend from Audi, Volkswagen, Allianz whereas US input is dominated by Coca-Cola.

European Premier Football September 1, 2014

Table 25a. Spanish La Liga sponsors by club: Almeria / Bilbao / Atletico Madrid Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Almeria Urcisol Food Primary Club Sponsor 0.31 Almeria Estrella Damm Alcohol Tier 2 Sponsor 0.06 Almeria La Caixa Financial Services Tier 2 Sponsor 0.06 Almeria CASI Food Tier 2 Sponsor 0.06 Almeria Vita Hoteliers Leisure Tier 2 Sponsor 0.06 Almeria Transportes J-Cano Logistics Tier 2 Sponsor 0.06 Almeria Coca-Cola Soft Drinks Tier 2 Sponsor 0.06 Almeria Costa de Almeria Tourism Tier 2 Sponsor 0.06 Athletic Club de Bilbao Petronor Oil Primary Club Sponsor 2.00 Athletic Club de Bilbao San Miguel Alcohol Tier 2 Sponsor 0.23 Athletic Club de Bilbao BBK Financial Services Tier 2 Sponsor 0.23 Athletic Club de Bilbao IMQ Health Insurance Tier 2 Sponsor 0.23 Athletic Club de Bilbao Canal+ Media Tier 2 Sponsor 0.23 Atletico Madrid Azerbaijan National Promotion Primary Club Sponsor 2014 2015 8.00 Atletico Madrid Mahou Alcohol Tier 2 Sponsor 1.16 Atletico Madrid Volkswagen Automotive Tier 2 Sponsor 1.16 Atletico Madrid Roberto Verino Fashion Tier 2 Sponsor 1.16 Atletico Madrid La Caixa Financial Services Tier 2 Sponsor 1.16 Atletico Madrid Coca-Cola Soft Drinks Tier 2 Sponsor 1.16 Atletico Madrid Viajes El Corte Ingles Tourism Tier 2 Sponsor 1.16 Atletico Madrid Jimenez Dorado Transport Tier 2 Sponsor 1.16 Atletico Madrid Renfe Transport Tier 2 Sponsor 1.16

European Premier Football September 1, 2014

Table 25b. Spanish La Liga sponsors by club: Celta Vigo / Cordoba / Deportivo/ Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Celta Vigo Citroën Automotive Primary Club Sponsor 0.54 Celta Vigo Estrella Galicia Alcohol Tier 2 Sponsor 0.09 Celta Vigo Grupo Recalvi Automotive Products Tier 2 Sponsor 0.09 Celta Vigo Abanca Financial Services Tier 2 Sponsor 0.09 Celta Vigo Altia IT Tier 2 Sponsor 0.09 Celta Vigo Canal+ Media Tier 2 Sponsor 0.09 Celta Vigo Coca-Cola Soft Drinks Tier 2 Sponsor 0.09 Cordoba RD Impagos Financial Services Primary Club Sponsor 0.39 Cordoba Cruzcampo Alcohol Tier 2 Sponsor 0.06 Cordoba Corhyund Automotive Tier 2 Sponsor 0.06 Cordoba CajaSur Financial Services Tier 2 Sponsor 0.06 Cordoba Coca-Cola Soft Drinks Tier 2 Sponsor 0.06 Deportivo la Coruna Estrella Galicia Alcohol Primary Club Sponsor 1.16 Deportivo la Coruna Abanca Financial Services Tier 2 Sponsor 0.07 Deportivo la Coruna Coca-Cola Soft Drinks Tier 2 Sponsor 0.07 AD Grupo Deportivo la Coruna Regueira Automotive Tier 3 Sponsor 0.46 Deportivo la Coruna Louzao Automotive Tier 3 Sponsor 0.46 Deportivo la Coruna Asisa Health Insurance Tier 3 Sponsor 0.46 Deportivo la Coruna HM Modelo Healthcare Tier 3 Sponsor 0.46 Deportivo la Coruna Altia IT Tier 3 Sponsor 0.46 Deportivo la Coruna Playa Club Leisure Tier 3 Sponsor 0.46 Deportivo la Coruna Zonafit Leisure Tier 3 Sponsor 0.46 Deportivo la Coruna Marineda City Retail Tier 3 Sponsor 0.46

European Premier Football September 1, 2014

Table 25c. Spanish La Liga sponsors by club: Elche / Espanyol Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Elche GIOS EPPO Fashion Primary Club Sponsor 2012 0.40 Elche Amstel Alcohol Tier 2 Sponsor 0.07 Elche La Caixa Financial Services Tier 2 Sponsor 0.07 Elche L'aljub Retail Tier 2 Sponsor 0.07 Elche Modalia Retail Tier 2 Sponsor 0.07 Elche Coca-Cola Soft Drinks Tier 2 Sponsor 0.07 Elche Los Serranos Construction Tier 3 Sponsor 0.46 Miguel Hernández Elche University Education Tier 3 Sponsor 0.46 Espanyol Power 8 Gambling Naming Rights 2014 2021 0.92 Espanyol Cancun Tourism Primary Club Sponsor 0.62 Espanyol Estrella Damm Alcohol Tier 2 Sponsor 0.09 Espanyol La Caixa Financial Services Tier 2 Sponsor 0.09 Espanyol Canal+ Media Tier 2 Sponsor 0.09

European Premier Football September 1, 2014

Table 25d. Spanish La Liga sponsors by club: Barcelona Value P.A. Rights Holder Company Industry Sector Status Start End (€m) FC Barcelona Qatar Airways Airline Primary Club Sponsor 2011 2016 36.19 FC Barcelona Mora Banc Financial Services Regional Partner 2013 2015 1.54 FC Barcelona United Arab Bank Financial Services Regional Partner 2013 2016 1.54 FC Barcelona Big Cola Soft Drinks Regional Partner 2014 2016 1.16 FC Barcelona Indosat Telecommunications Regional Partner 1.54 FC Barcelona Head & Shoulders Toileteries Regional Partner 1.54 FC Barcelona Estrella Damm Alcohol Tier 2 Sponsor 2011 2016 6.16 FC Barcelona Audi Automotive Tier 2 Sponsor 2011 2014 9.24 FC Barcelona La Caixa Financial Services Tier 2 Sponsor 6.16 FC Barcelona Beko White Goods Tier 2 Sponsor 2014 2018 9.24 FC Barcelona Panasonic Consumer Electronics Tier 3 Sponsor 2013 2016 2.70 FC Barcelona Replay Fashion Tier 3 Sponsor 2013 2017 1.93 FC Barcelona Allianz Financial Services Tier 3 Sponsor 3.08 FC Barcelona IronFX Financial Services Tier 3 Sponsor 2014 3.08 FC Barcelona Assistencia Sanitaria Health Insurance Tier 3 Sponsor 2012 2016 1.54 FC Barcelona Intel IT Tier 3 Sponsor 2013 2018 3.85 FC Barcelona Coca-Cola Soft Drinks Tier 3 Sponsor 2.31 FC Barcelona Gatorade Soft Drinks Tier 3 Sponsor 2013 2016 3.47 FC Barcelona Etisalat Telecommunications Tier 3 Sponsor 2013 2017 2.70 FC Barcelona Maurice Lacroix Time Keeping Tier 3 Sponsor 2014 2017 3.23 Stanley Black & FC Barcelona Decker Tools Tier 3 Sponsor 2014 2017 3.08 FC Barcelona EA Sports Video Gaming Tier 3 Sponsor 2013 2016 1.93

European Premier Football September 1, 2014

Table 25e. Spanish La Liga sponsors by club: Getafe / Granada Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Getafe CF Technocasa Group Property Primary Club Sponsor 2014 1.00 Getafe CF Old Taylor Fashion Tier 2 Sponsor 0.05 Getafe CF Allcot Group Energy Tier 2 Sponsor 2014 0.05 Getafe CF RolDigital Printing Tier 2 Sponsor 0.05 Getafe CF Casa de Pias Restaurants Tier 2 Sponsor 0.05 Getafe CF Viajes Biosheleter Tourism Tier 2 Sponsor 0.05 Getafe CF Mahou Alcohol Tier 3 Sponsor 0.03 Getafe CF CityCar Sur Automotive Tier 3 Sponsor 0.03 Getafe CF Qualitauto Getafe Automotive Tier 3 Sponsor 0.03 Getafe CF Runas Digital IT Tier 3 Sponsor 0.03 Getafe CF Hoteles2 Leisure Tier 3 Sponsor 0.03 Getafe CF Coca-Cola Soft Drinks Tier 3 Sponsor 0.03 Getafe CF Eurogreen Sports Equipment Tier 3 Sponsor 0.03 Getafe CF Empresa Ruiz Transport Tier 3 Sponsor 0.03 Getafe CF Renfe Transport Tier 3 Sponsor 0.03 Granada Solver Sports Capital Sports Business Primary Club Sponsor 2014 2015 0.85 Granada Alhambra Cervezas Alcohol Tier 2 Sponsor 0.06 Granada Ceballos Construction Products Tier 2 Sponsor 0.06 Granada Kyocera Digital imaging Tier 2 Sponsor 0.06 Granada BMN Financial Services Tier 2 Sponsor 0.06 Granada Caja Rural de Grenada Financial Services Tier 2 Sponsor 0.06 Granada Grupo Luna Property Tier 2 Sponsor 0.06 Granada Corivan Retail Tier 2 Sponsor 0.06 Granada Coca-Cola Soft Drinks Tier 2 Sponsor 0.06 Granada Puleva Soft Drinks Tier 2 Sponsor 0.06

European Premier Football September 1, 2014

Table 25f. Spanish La Liga sponsors by club: Levante / Malaga / Vallecano Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Levante UD NO SPONSOR Primary Club Sponsor 0.00 Levante UD Amstel Alcohol Tier 2 Sponsor 0.06 Levante UD Coca-Cola Soft Drinks Tier 2 Sponsor 0.06 Levante UD Valencia Terra i Mar Tourism Tier 2 Sponsor 0.06 Malaga UNESCO Charity Primary Club Sponsor 0.00 Malaga San Miguel Alcohol Tier 2 Sponsor 2013 2015 0.15 Malaga La Caixa Financial Services Tier 2 Sponsor 0.15 Malaga Blue Bay Leisure Tier 2 Sponsor 0.15 Malaga Coca-Cola Soft Drinks Tier 2 Sponsor 0.15 Malaga Dick Bikkembergs Fashion Tier 3 Sponsor 0.12 NJQY Sports Rayo Vallecano Management Sports management Primary Club Sponsor 2014 2015 0.39 Rayo Vallecano Mahou Alcohol Tier 2 Sponsor 0.05 Rayo Vallecano Nevir Consumer Electronics Tier 2 Sponsor 0.05 Rayo Vallecano DR&N Fashion Tier 2 Sponsor 0.05 Rayo Vallecano Coca-Cola Soft Drinks Tier 2 Sponsor 0.05 Rayo Vallecano Halcon Viajes Tourism Tier 2 Sponsor 0.05

European Premier Football September 1, 2014

Table 25g. Spanish La Liga sponsors by club: Real Madrid / Real Sociedad Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Real Madrid Emirates Airline Primary Club Sponsor 2013 2018 29.88 Real Madrid Chang Alcohol Regional Partner 2012 2015 2.12 Real Madrid Mahou Alcohol Tier 2 Sponsor 3.85 Real Madrid Audi Automotive Tier 2 Sponsor 9.24 Real Madrid BBVA Financial Services Tier 2 Sponsor 7.70 Real Madrid Bwin Gambling Tier 2 Sponsor 6.16 Real Madrid Coca-Cola Soft Drinks Tier 2 Sponsor 6.16 Real Madrid STC Telecommunications Tier 2 Sponsor 2013 2018 3.08 Real Madrid Samsung Consumer Electronics Tier 3 Sponsor 2.31 Real Madrid Campofrio Food Tier 3 Sponsor 2.31 Real Madrid Sanitas Health Insurance Tier 3 Sponsor 2012 2015 1.54 Real Madrid Solan de Cabras Soft Drinks Tier 3 Sponsor 1.54 Real Madrid Nivea Toileteries Tier 3 Sponsor 2013 2016 2.31 Real Sociedad Qbao.com Telecommunications Primary Club Sponsor 2014 2015 4.24 Real Sociedad Keler 18 Alcohol Tier 2 Sponsor 0.06 Real Sociedad Kutxa Financial Services Tier 2 Sponsor 0.06 Real Sociedad Coca-Cola Soft Drinks Tier 2 Sponsor 0.06 Real Sociedad Vasa-Volkswagen Automotive Tier 3 Sponsor 2013 2016 0.05

European Premier Football September 1, 2014

Table 25h. Spanish La Liga sponsors by club: Eibar / Sevilla / Valencia / Villarreal

Rights Holder Company Industry Sector Status Start End Value P.A. (€m) SD Eibar Hierros Servando Steel Primary Club Sponsor 0.19 SD Eibar Eibar Motor Automotive Tier 2 Sponsor 0.04 SD Eibar Santillan Klimadenda Construction Products Tier 2 Sponsor 0.04 SD Eibar Mutualia Health Insurance Tier 2 Sponsor 0.04 SD Eibar El Diario Vasco Media Tier 2 Sponsor 0.04 SD Eibar Insalus Soft Drinks Tier 2 Sponsor 0.04 SD Eibar PremierClass Tourism Tier 2 Sponsor 0.04 Sevilla FC Visit Malaysia Tourism Primary Club Sponsor 2014 1.54 Sevilla FC Cruzcampo Alcohol Tier 2 Sponsor 0.27 Sevilla FC La Caixa Financial Services Tier 2 Sponsor 0.27 Sevilla FC Andalunet.com Marketing Tier 2 Sponsor 0.27 Sevilla FC Robles Restaurants Tier 2 Sponsor 0.27 Sevilla FC Coca-Cola Soft Drinks Tier 2 Sponsor 0.27 Valencia CF NO SPONSOR Primary Club Sponsor 0.00 Valencia CF Estrella Damm Alcohol Tier 2 Sponsor 1.00 Valencia CF Trolli Confectionery Tier 3 Sponsor 0.54 Valencia CF El Ganso Fashion Tier 3 Sponsor 0.54 Valencia CF Divina Pastora Seguros Financial Services Tier 3 Sponsor 0.54 Valencia CF La Caixa Financial Services Tier 3 Sponsor 2014 2017 0.54 Valencia CF Coca-Cola Soft Drinks Tier 3 Sponsor 0.54 Valencia CF EA Sports Video Gaming Tier 3 Sponsor 0.54 Villarreal CF Pamesa Construction Products Primary Club Sponsor 0.31 Villarreal CF Mahou Alcohol Tier 2 Sponsor 0.05 Villarreal CF La Caixa Financial Services Tier 2 Sponsor 0.05 Villarreal CF Sanitas Health Insurance Tier 2 Sponsor 0.05 Villarreal CF Coca-Cola Soft Drinks Tier 2 Sponsor 0.05

European Premier Football September 1, 2014

ITALY – SERIE A

ITALIAN DECLINE CONTINUES WITH NO SIGN OF MAJOR CHANGE

It’s less than 20 years since Italian soccer dominated in Europe with AC Milan and Juventus in particular flexing their financial muscle to recruit the world’s leading players and take the top trophies. While English clubs struggled to pay more than €2m for top domestic players, Serie was littered with the best from Brazil, the Netherlands and Argentina and Gianluigi Lentini was transferred from Torino to AC Milan for nearly €16m as far back as 1992.

Decline came about partly because the Italian clubs and federation failed to capitalise on the success of the 1990 World Cup. Italy had the best club teams, new stadia and, at the time, big domestic TV deals. It was, in theory, in an unassailable position. Indeed it was the first country to seriously sell its TV rights internationally given the major interest in the quality of its football.

The start of the English Premier League in 1992 along with a revival in the fortunes of Barcelona and Real Madrid in the 1990s kick-started financial competition from abroad. The much vaunted modern stadia soon appeared to be too cavernous and without the lucrative corporate facilities being included in the post-Taylor English equivalents, the revenue balance was shifting. A failure to tackle racism and violence also left Italy in a position that England was escaping. To a large extent, those problems remain; as other nations have developed, Italy has, by and large, stood still.

Table 26. Italian Serie A sponsorship revenue by club (€m) Club Total Average No of % of income deal deals league (€m) value total (€m) Juventus 26.68 1.78 15 20% AC Milan 22.60 0.94 24 17% Inter Milan FC 18.72 1.56 12 14% Napoli 15.96 0.66 24 12% Sassuolo 11.55 1.44 8 9% AS Roma 8.09 1.01 8 6% Parma 2.79 0.23 12 2% Lazio 2.73 0.21 13 2% Sampdoria 2.64 0.19 14 2% Atalanta 2.29 0.57 4 2% Torino 2.19 0.20 11 2% Hellas Verona 2.17 0.14 15 2% Genoa 2.14 0.27 8 2% Udinese 2.02 0.22 9 2% Cesena 1.97 0.18 11 1% Chievo 1.85 0.31 6 1% Empoli 1.56 0.22 7 1% Fiorentina 1.49 0.14 11 1% Palermo 1.29 0.13 10 1% Cagliari 1.25 0.25 5 1%

European Premier Football September 1, 2014

Given southern Europe’s less mature sponsorship industry, corporate backing of Italian clubs tends to have a greater element of patronage than pure commercial consideration. Although it means that some rights fees are arguably higher than their true economic value, it hasn’t helped the industry to develop and has probably depressed overall income.

Despite these problems, leading Italian clubs remain huge brands with high international recognition and the ability to attract major sponsorship deals, although fee levels are now some way behind the top clubs in England, Spain and Germany.

Juventus leads with its €17.5m Jeep sponsorship, although the fact that FIAT now owns both the Chrysler brand and the Turin-based club clearly helped. AC Milan’s Emirates sponsorship is second largest at €12.7m with Inter’s long-standing Pirelli (€13.1m) deal just eclipsing that of Lete with resurgent Napoli (€12m).

At the time of going to press neither of Rome’s major clubs; Roma and Lazio, had a primary shirt sponsor, a situation also affecting Palermo. This is further evidence of the commercial malaise facing Italy’s clubs, especially given that the Rome pair feature in the top 30 European clubs by revenue.

Table 27. Italian Serie A sponsorship revenue by type Total deal Average No of value (€m) deal value deals (€m) Primary Club Sponsor 80.95 4.05 20 Tier 2 Sponsor 29.31 0.39 75 Tier 3 Sponsor 12.29 0.18 69 Tier 4 Sponsor 5.58 0.14 39 Tier 5 Sponsor 3.84 0.16 24 Grand Total 131.98 0.58 227

As with Spain, there is no culture of naming rights in Italy although Sassuolo’s stadium is named after the club’s main sponsor Mapei, partly because the company’s owner, Giorgio Squinzi also owns the club. Juventus granted the agency SportFive rights to market the name of its new stadium in 2011, but to date there appears to be no sign of an exclusive naming deal.

Chart 15. Italian Serie A sponsorship revenue by type (%)

Tier 4 Sponsor Tier 5 Sponsor 4% Tier 3 Sponsor 3% 9%

Tier 2 Sponsor 22% Primary Club Sponsor 62%

European Premier Football September 1, 2014

SERIE A SPONSORSHIP BY INDUSTRY

Table 28. Italian Serie A sponsorship revenue by industry Industry Total Average No of spend deal value deals (€m) (€m) Automotive 20.99 1.61 13 Soft Drinks 15.82 1.22 13 Automotive Products 13.99 4.66 3 Airline 12.91 6.46 2 Construction Products 12.24 2.45 5 Food 7.53 0.47 16 Telecommunications 6.85 0.36 19 Gambling 5.24 0.37 14 Financial Services 5.05 0.27 19 Fashion 4.65 0.29 16

The car industry has long been a mainstay of the sponsorship industry in Italy, partly as a result of the Agnelli family’s ties to both Juventus and FIAT, but in the past Opel has had major deals with AC Milan and Mazda with Fiorentina. Currently, however, the only other major deal is between the Renault-owned Dacia brand and Udinese.

Soft drinks feature highly because of Lete’s primary deal with Napoli as well as smaller deals with Gatorade, Powerade and several domestic mineral water brands that cover a variety of clubs. Food has traditionally been a major investor in sponsorship in Italy although for the 2014/15 season spend has dropped with no major deals among the 16 recorded.

Chart 16. Italian Serie A sponsorship revenue by industry by value

Other Fashion Financial Services Gambling Telecommunications Food Construction Products Airline Automotive Products Soft Drinks Automotive

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It is interesting to note how low the financial services spend is, especially in comparison to other countries. Most clubs have a deal with either a banking group or insurer, but in recent seasons clubs such as Chievo, Atalanta, Novara and Siena (the latter two now relegated) all had primary shirt deals with banks / insurers with a combined value of around €15m. Now the largest deals are second tier sponsorships between AC Milan and Banca Popolare di Milano and Juventus and Groupama with estimated values of €0.7m.

European Premier Football September 1, 2014

Being arguably the fashion capital of the world, it is not surprising to see a large number of deals from the sector, but with the exception of Hellas Verona’s primary deal with Franklin Marshall, these are mainly low value contracts with an in-kind element.

Chart 17. Italian Serie A sponsorship revenue by industry by number of deals

Other Fashion Financial Services Gambling Telecommunications Food Construction Products Airline Automotive Products Soft Drinks Automotive

0 20 40 60 80 100 120

Table 29. Italian Serie A major sponsorship spend by company Total Average spend deal value No of Company (€m) (€m) deals Jeep 17.52 17.52 1 Pirelli 13.10 13.10 1 Emirates 12.78 12.78 1 Lete 12.67 4.22 3 Mapei 11.00 11.00 1 TIM 4.61 0.31 15 Frecciarossa 2.94 0.42 7 SuisseGas 2.70 1.35 2 Folletto 1.80 1.80 1 McVite's 1.77 0.89 2 Gamenet 1.60 1.60 1 Gatorade 1.50 0.50 3 Dacia 1.40 1.40 1 Paluani 1.39 1.39 1 Beretta 1.31 1.31 1 Intralot 1.29 0.64 2 Sixtus.it 1.25 0.62 2 Gecom 1.16 1.16 1 Philipp Plein 1.16 1.16 1 Technogym 1.14 0.57 2

European Premier Football September 1, 2014

Table 30. Italian Serie A source of sponsorship spend by company HQ Country Total Average No of % of spend deal deals league (€m) value total (€m) Italy 78.18 0.48 163 59.24% USA 20.81 2.08 10 15.76% Dubai 12.78 12.78 1 9.69% Switzerland 6.12 0.44 14 4.64% Germany 3.16 0.45 7 2.40% UK 1.83 0.61 3 1.39% South Korea 1.54 0.77 2 1.17% Romania 1.40 1.40 1 1.06% Japan 1.22 0.17 7 0.93% Poland 0.92 0.92 1 0.70% Netherlands 0.88 0.44 2 0.67% Gibraltar 0.77 0.77 1 0.58% France 0.67 0.22 3 0.51% Cyprus 0.50 0.50 1 0.38% Sweden 0.40 0.20 2 0.30% China 0.39 0.39 1 0.29% Malta 0.25 0.13 2 0.19% Spain 0.09 0.09 1 0.07% Portugal 0.05 0.05 1 0.04%

With almost 60% of investment from local companies, it might be argued that Italy has a similar sponsorship profile to Germany in terms of source of revenue. In the case of Germany, however, that is, to a large extent, down to the strength of domestic companies.

In Italy, the lack of foreign investment is largely as result of lack of interest. The Italian soccer product is simply not attractive for foreign companies to invest in. The clubs no longer achieve the global profile and television exposure that they once had. The image of Italian soccer is one of decline; hardly the ideal image for global sponsors and club marketing operations have fallen behind those of England, Germany and the top clubs in Spain.

Italy remains one of soccer’s most important countries. At both national and club level, it has a history that is on a par with such countries as Brazil, Germany, Spain and England. It seems, however, that Italy is taking a long time to learn the lessons that, for example, England went through in the 1980s. To generate appeal to international sponsors requires that the game first becomes appealing to domestic spectators. The processes to achieve this are actually quite straightforward, but they require effort and commitment. So far, in Italy, the sport has not fully grasped the nettle and committed to change. Until it does, sponsorship revenues will be just one of many datasets that reflect stagnation of the national sport.

European Premier Football September 1, 2014

Table 31a. Italian Serie A sponsors by club: AC Milan Value P.A. Rights Holder Company Industry Sector Status Start End (€m) AC Milan Emirates Airline Primary Club Sponsor 2010 2015 12.78 AC Milan Audi Automotive Tier 2 Sponsor 0.77 AC Milan SuisseGas Energy Tier 2 Sponsor 2014 0.77 Banca Popolare di AC Milan Milano Financial Services Tier 2 Sponsor 2013 2016 0.77 AC Milan MSC Crociere Leisure Tier 2 Sponsor 0.77 AC Milan TIM Telecommunications Tier 2 Sponsor 0.77 AC Milan Nivea Toileteries Tier 2 Sponsor 0.77 AC Milan Dolce & Gabbana Fashion Tier 3 Sponsor 0.58 AC Milan Toyo Tires Automotive Products Tier 4 Sponsor 0.39 AC Milan McVite's Food Tier 4 Sponsor 2014 0.39 AC Milan IZI Gambling Tier 4 Sponsor 2013 0.39 AC Milan Indesit Home Appliances Tier 4 Sponsor 0.39 AC Milan Huawei Telecommunications Tier 4 Sponsor 2013 2016 0.39 AC Milan Frecciarossa Transport Tier 4 Sponsor 0.39 AC Milan Ricoh Digital Imaging Tier 5 Sponsor 0.23 AC Milan Braun Electrical Products Tier 5 Sponsor 2014 0.23 AC Milan Aon Financial Services Tier 5 Sponsor 0.23 AC Milan Nutrilite Food supplements Tier 5 Sponsor 0.23 AC Milan Nexive Logistics Tier 5 Sponsor 0.23 AC Milan Radio Italia Media Tier 5 Sponsor 0.23 AC Milan Fujitsu Office Equipment Tier 5 Sponsor 2014 2017 0.23 AC Milan Adecco Recruitment Tier 5 Sponsor 0.23 AC Milan Gatorade Soft Drinks Tier 5 Sponsor 0.23 AC Milan Levissima Soft Drinks Tier 5 Sponsor 0.23

European Premier Football September 1, 2014

Table 31b. Italian Serie A sponsors by club: Roma / Atalanta / Cagliari Value P.A. Rights Holder Company Industry Sector Status Start End (€m) AS Roma NO SPONSOR Primary Club Sponsor 2014 0.00 AS Roma Philipp Plein Fashion Tier 2 Sponsor 2012 2016 1.16 AS Roma Intralot Gambling Tier 2 Sponsor 1.16 AS Roma Sixtus.it Healthcare Tier 2 Sponsor 1.16 AS Roma Gecom Security Tier 2 Sponsor 2013 2014 1.16 AS Roma Gatorade Soft Drinks Tier 2 Sponsor 1.16 AS Roma TIM Telecommunications Tier 2 Sponsor 1.16 AS Roma Frecciarossa Transport Tier 2 Sponsor 1.16 Atalanta SuisseGas Energy Primary Club Sponsor 2014 2015 1.93 Atalanta Konica Minolta Digital imaging Tier 2 Sponsor 0.12 Atalanta Creberg Financial Services Tier 2 Sponsor 0.12 Atalanta Oriocenter Retail Tier 2 Sponsor 0.12 Cagliari Sardegna Government Primary Club Sponsor 0.99 Cagliari Tiscali Telecommunications Tier 2 Sponsor 2014 2015 0.08 Cagliari Castangia Fashion Tier 3 Sponsor 0.06 Cagliari Intesa Sanpaolo Financial Services Tier 3 Sponsor 2014 2015 0.06 Cagliari G-Sport Marketing Tier 3 Sponsor 0.06

European Premier Football September 1, 2014

Table 31c. Italian Serie A sponsors by club: Cesena / Chievo / Empoli Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Cesena Technogym Sports Equipment Primary Club Sponsor 0.99 Cesena Anseme Agriculture Tier 2 Sponsor 0.09 Cesena Viocar Automotive Tier 2 Sponsor 0.09 Cesena Gruppo Trevi Constuction Tier 2 Sponsor 0.09 Cesena Paresa Energy services Tier 2 Sponsor 0.09 Cesena Siste's Fashion Tier 2 Sponsor 0.09 Cesena Prink IT Tier 2 Sponsor 2014 2015 0.15 Cesena Jolly Service Logistics Tier 2 Sponsor 0.09 Management Cesena Orienta consulting Tier 2 Sponsor 0.09 Cesena G-Sport Marketing Tier 2 Sponsor 0.09 Cesena Pubblisole Marketing Tier 2 Sponsor 0.09 Chievo Paluani Food Primary Club Sponsor 1.39 Chievo Volkswagen Automotive Tier 2 Sponsor 0.09 Chievo Volvo Automotive Tier 2 Sponsor 0.09 Chievo Midac Batteries Tier 2 Sponsor 0.09 Banca Popolare di Chievo Verona Financial Services Tier 2 Sponsor 0.09 Chievo TIM Telecommunications Tier 2 Sponsor 0.09 Empoli NGM Telecommunications Primary Club Sponsor 2010 1.00 Empoli Banca CR Firenze Financial Services Tier 2 Sponsor 0.09 Empoli Bancadinamica Financial Services Tier 2 Sponsor 2014 2015 0.09 Empoli INPA Food Tier 2 Sponsor 0.09 Empoli Sammontana Food Tier 2 Sponsor 0.09 Empoli Eurobet Gambling Tier 2 Sponsor 0.09 Empoli Computer Gross Retail Tier 2 Sponsor 0.09

European Premier Football September 1, 2014

Table 31d. Italian Serie A sponsors by club: Fiorentina / Genoa Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Fiorentina Save the Children Charity Primary Club Sponsor 0.00 Fiorentina Banca CR Firenze Financial Services Tier 2 Sponsor 0.19 Fiorentina Betclic Gambling Tier 2 Sponsor 0.19 Fiorentina Trentino Tourism Tier 2 Sponsor 0.19 Fiorentina Ruffino Alcohol Tier 3 Sponsor 0.13 Fiorentina Logli Massimo Construction Products Tier 3 Sponsor 0.13 Fiorentina Bottega del Sarto Fashion Tier 3 Sponsor 0.13 Fiorentina Sammontana Food Tier 3 Sponsor 0.13 Fiorentina G-Sport Marketing Tier 3 Sponsor 0.13 Fiorentina Lete Soft Drinks Tier 3 Sponsor 0.13 Fiorentina TIM Telecommunications Tier 3 Sponsor 0.13 Genoa McVite's Food Primary Club Sponsor 2014 1.39 Genoa Banca Carige Financial Services Tier 2 Sponsor 0.12 Genoa Groupama Financial Services Tier 2 Sponsor 0.12 Genoa TIM Telecommunications Tier 2 Sponsor 0.12 Genoa LeasePlan Automotive Tier 3 Sponsor 0.11 Genoa Ottica Sparviero Healthcare Tier 4 Sponsor 0.09 Genoa NH Hotels Leisure Tier 4 Sponsor 0.09 Genoa Adecco Recruitment Tier 4 Sponsor 0.09

European Premier Football September 1, 2014

Table 31e. Italian Serie A sponsors by club: Hellas Verona Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Hellas Verona Franklin Marshall Fashion Primary Club Sponsor 2014 0.77 Hellas Verona AGSM Energy Tier 2 Sponsor 0.12 Hellas Verona Leaderform Marketing Tier 2 Sponsor 0.12 Hellas Verona Bottega del Sarto Fashion Tier 3 Sponsor 0.11 Hellas Verona Manila Grace Fashion Tier 3 Sponsor 0.11 Hellas Verona TIM Telecommunications Tier 3 Sponsor 0.11 Hellas Verona Sartori Alcohol Tier 4 Sponsor 0.09 Hellas Verona Nuova Veronauto Automotive Tier 4 Sponsor 0.09 Hellas Verona Trivellato Automotive Tier 4 Sponsor 0.09 Hellas Verona SEC Ponteggi Construction Tier 4 Sponsor 0.09 Hellas Verona Isokinetic Healthcare Tier 4 Sponsor 0.09 Hellas Verona Sixtus.it Healthcare Tier 4 Sponsor 0.09 Hellas Verona Petas Property Tier 4 Sponsor 0.09 Hellas Verona Maniva Soft Drinks Tier 4 Sponsor 0.09 Hellas Verona OMP Sports equipment Tier 4 Sponsor 0.09

European Premier Football September 1, 2014

Table 31f. Italian Serie A sponsors by club: Inter Milan Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Inter Milan FC Pirelli Automotive Products Primary Club Sponsor 2018 13.10 Inter Milan FC Oknoplast Construction Products Tier 2 Sponsor 2012 0.92 Inter Milan FC Deutsche Bank Financial Services Tier 2 Sponsor 0.92 Inter Milan FC Tim Telecommunications Tier 2 Sponsor 0.92 Inter Milan FC Lete Soft Drinks Tier 3 Sponsor 0.54 Inter Milan FC Caffe Motta Soft Drinks Tier 3 Sponsor 0.54 Inter Milan FC Frecciarossa Transport Tier 3 Sponsor 0.54 Inter Milan FC Brooks Brothers Fashion Tier 4 Sponsor 0.31 Inter Milan FC SAP IT Tier 4 Sponsor 0.31 Inter Milan FC Interbrau Alcohol Tier 5 Sponsor 2012 0.31 Inter Milan FC Adecco Recruitment Tier 5 Sponsor 0.15 Inter Milan FC Technogym Sports Equipment Tier 5 Sponsor 0.15

European Premier Football September 1, 2014

Table 31g. Italian Serie A sponsors by club: Juventus Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Juventus Jeep Automotive Primary Club Sponsor 2014 2021 17.52 Juventus Samsung Consumer Electronics Tier 2 Sponsor 0.77 Juventus Hanwha Energy Tier 2 Sponsor 0.77 Juventus Trussardi Fashion Tier 2 Sponsor 0.77 Juventus Veneto Banca Financial Services Tier 2 Sponsor 0.77 Juventus Balocco Food Tier 2 Sponsor 0.77 Juventus Bwin Gambling Tier 2 Sponsor 2013 0.77 Juventus Randstad Recruitment Tier 2 Sponsor 0.77 Juventus TIM Telecommunications Tier 2 Sponsor 0.77 Juventus Goodyear Automotive Products Tier 3 Sponsor 0.50 Juventus 24option Financial Services Tier 3 Sponsor 0.50 Juventus San Pellegrino Soft Drinks Tier 3 Sponsor 2014 0.50 Juventus Hublot Time Keeping Tier 3 Sponsor 0.50 Juventus Valle d'Aosta Tourism Tier 3 Sponsor 0.50 Juventus Frecciarossa Transport Tier 3 Sponsor 0.50

European Premier Football September 1, 2014

Table 31h. Italian Serie A sponsors by club: Lazio Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Lazio NO SPONSOR Primary Club Sponsor 0.00 Lazio Groupama Financial Services Tier 2 Sponsor 2013 0.46 Lazio TIM Telecommunications Tier 2 Sponsor 0.46 Lazio Volvo Automotive Tier 3 Sponsor 0.31 Lazio Algida Food Tier 3 Sponsor 0.31 Lazio IZI Gambling Tier 3 Sponsor 2013 0.31 Lazio Corriere dello Sport Media Tier 4 Sponsor 0.15 Lazio Frecciarossa Transport Tier 4 Sponsor 0.15 Lazio Domenico Vacca Fashion Tier 5 Sponsor 0.12 Lazio Paideia Healthcare Tier 5 Sponsor 0.12 Lazio SDA Logistics Tier 5 Sponsor 0.12 Lazio Adecco Recruitment Tier 5 Sponsor 0.12 Lazio Gatorade Soft Drinks Tier 5 Sponsor 0.12

European Premier Football September 1, 2014

Table 31i. Italian Serie A sponsors by club: Napoli Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Napoli Lete Soft Drinks Primary Club Sponsor 12.00 Napoli Pastagarofalo Food Tier 2 Sponsor 1.08 Napoli Meridiana Airline Tier 3 Sponsor 2013 2014 0.13 Napoli EnerGas Energy Tier 3 Sponsor 0.13 Napoli Dooa Fashion Tier 3 Sponsor 0.13 Napoli Banco di Napoli Financial Services Tier 3 Sponsor 0.13 Napoli Blu Italia Food Tier 3 Sponsor 0.13 Napoli San Carlo Food Tier 3 Sponsor 0.13 Napoli Intralot Gambling Tier 3 Sponsor 0.13 Napoli SIRE Hospitality Tier 3 Sponsor 0.13 Napoli Fatigati Household goods Tier 3 Sponsor 0.13 Napoli Marina di Castello Leisure Tier 3 Sponsor 0.13 Napoli MSC Crociere Leisure Tier 3 Sponsor 0.13 Napoli Corriere dello Sport Media Tier 3 Sponsor 0.13 Napoli Radio KissKiss Media Tier 3 Sponsor 0.13 Napoli Gruppo di Palo Retail Tier 3 Sponsor 0.13 Napoli Sigma Retail Tier 3 Sponsor 0.13 Napoli Tufano Retail Tier 3 Sponsor 0.13 Napoli Powerade Soft Drinks Tier 3 Sponsor 0.13 Napoli TIM Telecommunications Tier 3 Sponsor 0.13 Napoli Clendy Toileteries Tier 3 Sponsor 0.13 Napoli Trentino Tourism Tier 3 Sponsor 0.13 Napoli Frecciarossa Transport Tier 3 Sponsor 0.13 Napoli TTTLines Transport Tier 3 Sponsor 0.13

European Premier Football September 1, 2014

Table 31j. Italian Serie A sponsors by club: Palermo / Parma Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Palermo NO SPONSOR Primary Club Sponsor 0.00 Palermo Nuova Sport Car Automotive Tier 2 Sponsor 0.23 Palermo IZI Gambling Tier 2 Sponsor 0.23 Palermo Caesars Palace Leisure Tier 2 Sponsor 0.23 Palermo TIM Telecommunications Tier 2 Sponsor 0.23 Palermo Corriere dello Sport Media Tier 3 Sponsor 0.09 Palermo Deco Retail Tier 3 Sponsor 0.09 Palermo Adecco Recruitment Tier 4 Sponsor 0.06 Palermo Trentino Tourism Tier 4 Sponsor 0.06 Palermo Valle del Chiese Tourism Tier 4 Sponsor 0.06 Parma Folletto Household Appliances Primary Club Sponsor 1.80 Parma Energy T.I Group Energy Tier 2 Sponsor 2014 0.12 Parma Bottega del Sarto Fashion Tier 3 Sponsor 0.11 Parma Studio Pasta Healthcare Tier 3 Sponsor 0.11 Parma PharmaNutra Healthcare Tier 3 Sponsor 0.11 Parma Cillo Retail Tier 3 Sponsor 0.11 Parma Kyocera Digital imaging Tier 4 Sponsor 0.08 Parma Maxibon Food Tier 4 Sponsor 0.08 Parma Caffe Motta Soft Drinks Tier 4 Sponsor 0.08 Parma TIM Telecommunications Tier 4 Sponsor 0.08 Parma Betclic Gambling Tier 5 Sponsor 0.06 Parma William Hill Gambling Tier 5 Sponsor 0.06

European Premier Football September 1, 2014

Table 31k. Italian Serie A sponsors by club: Sampdoria / Sassuolo Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Sampdoria Gamenet Gambling Primary Club Sponsor 2013 1.60 Sampdoria Banca Carige Financial Services Tier 2 Sponsor 0.12 Sampdoria TIM Telecommunications Tier 2 Sponsor 0.12 Sampdoria Bottega del Sarto Fashion Tier 3 Sponsor 0.09 Sampdoria Better Gambling Tier 3 Sponsor 0.09 Sampdoria MSC Crociere Leisure Tier 3 Sponsor 0.09 Sampdoria Interglobo Logistics Tier 3 Sponsor 0.09 Sampdoria Rent Italia Automotive Tier 4 Sponsor 0.07 Sampdoria Tutto Sport Media Tier 4 Sponsor 0.07 Sampdoria Nivea Toileteries Tier 4 Sponsor 0.07 Sampdoria Ricoh Digital Imaging Tier 5 Sponsor 0.05 Sampdoria Refrigue Fashion Tier 5 Sponsor 0.05 Sampdoria Adecco Recruitment Tier 5 Sponsor 0.05 Sampdoria Tessilmoda Retail Tier 5 Sponsor 0.05 Sassuolo Mapei Construction Products Primary Club Sponsor 11.00 Sassuolo Casalgrande Padana Construction Products Tier 2 Sponsor 0.09 Sassuolo Marca Corona Construction Products Tier 2 Sponsor 0.09 Sassuolo TIM Telecommunications Tier 2 Sponsor 0.09 Sassuolo Cantine Maschio Alcohol Tier 3 Sponsor 0.07 Sassuolo Messori Fashion Tier 3 Sponsor 0.07 Sassuolo Ferrarini Food Tier 3 Sponsor 0.07 Sports Sassuolo Sparco Clothing/Equipment Tier 3 Sponsor 0.07

European Premier Football September 1, 2014

Table 31l. Italian Serie A sponsors by club: Torino / Udinese Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Torino Beretta Food Primary Club Sponsor 1.31 Torino Suzuki Automotive Tier 2 Sponsor 0.12 Torino As do Mar Food Tier 3 Sponsor 0.11 Torino TIM Telecommunications Tier 3 Sponsor 0.11 Torino Panealba Food Tier 4 Sponsor 0.08 Torino MG.K Food Supplements Tier 4 Sponsor 0.08 Torino Sisal Wincity Gambling Tier 4 Sponsor 0.08 Torino Aruba IT Tier 4 Sponsor 0.08 Torino Benactiv Healthcare Tier 4 Sponsor 0.08 Torino Valmora Soft Drinks Tier 4 Sponsor 0.08 Torino Frecciarossa Transport Tier 4 Sponsor 0.08 Udinese Dacia Automotive Primary Club Sponsor 2014 1.40 Banca Popolare di Udinese Vicenza Financial Services Tier 2 Sponsor 0.08 Udinese Groupama Financial Services Tier 2 Sponsor 0.08 Udinese IZI Gambling Tier 2 Sponsor 0.08 Udinese TIM Telecommunications Tier 2 Sponsor 0.08 Udinese Benpower Construction Tier 3 Sponsor 0.07 Udinese Uniqa Financial Services Tier 3 Sponsor 0.07 Udinese Corriere dello Sport Media Tier 3 Sponsor 0.07 Udinese Adecco Recruitment Tier 3 Sponsor 0.07

European Premier Football September 1, 2014

FRANCE – LIGUE 1

FRENCH CLUB SPONSORSHIP – A TALE OF ONE CITY?

Table one speaks volumes about the changes to French domestic soccer in recent years. Paris Saint- Germain (PSG) now accounts for more than half of all sponsorship revenue among French Ligue 1 clubs and this doesn’t even include the huge Qatar Tourism Authority (QTA) deal valued at €200m per year. This deal has not been included in the report because UEFA has deemed that it is not a genuine reflection of the rights offered. Indeed, there is no listing of the QTA among sponsors on the PSG website and the deal didn’t secure shirt or naming rights branding.

Table 32. French Ligue 1 sponsorship revenue by club (€m) Club Total Average No of % of income deal deals league (€m) value total (€m) Paris Saint-Germain 65.95 3.47 19 52% Olympique de Marseille 11.24 1.25 9 9% Olympique Lyonnais 8.88 1.11 8 7% As Monaco 7.16 1.02 7 6% AS Saint-Etienne 5.54 0.55 10 4% OGC Nice 4.02 0.45 9 3% Nantes 2.90 0.36 8 2% FC Girondins de 2.62 0.87 3 2% Bordeaux Stade Rennais FC 2.20 0.20 11 2% Lille Olympique SC 2.16 0.24 9 2% Stade de Reims 1.83 0.18 10 1% FC Metz 1.77 0.25 7 1% SC Bastia 1.46 0.24 6 1% Toulouse FC 1.46 0.10 14 1% SM Caen 1.38 0.35 4 1% Montpellier Herault SC 1.31 0.15 9 1% En Avant de Guingamp 1.23 0.18 7 1% Evian Thonon 1.01 0.10 10 1% Racing Club de Lens 0.82 0.10 8 1% FC Lorient 0.77 0.19 4 1%

The current sponsorship story at PSG obviously relates to the club takeover by Qatar Sports Investments (QSI) in 2011. Since then QSI has invested heavily in the club allowing it to assemble one of Europe’s strongest squads. With UEFA’s Financial Fair Play rules effectively blocking direct, unearned investment from wealthy benefactors, PSG has needed to increase revenues rapidly to sustain its spending plans. Indeed, the club was fined €60m by UEFA in May 2014 and instructed to freeze its wage bill for two years because it was not deemed to be living within its means.

With match-day revenue unlikely to increase significantly at the Parc des Princes stadium and French TV rights collectively negotiated, the only opportunity to create the necessary dramatic additional income for the club is through sponsorship. In an interview with the International Journal of Sports Marketing & Sponsorship in 2013, however, Frédéric Longuépée, Deputy Managing Director of the

European Premier Football September 1, 2014 club, explained that its sponsorship strategy was more about long-term brand building than a quick dash for cash. The policy was to attract a core group of around 15 leading global brands that would have full international rights. The club was not interested in regional partnerships as this would not meet its brand objectives.

To date the club has deals with such brands as Emirates, Citroën, Panasonic, Huawei, Coca-Cola, McDonalds, Nivea, Microsoft and Hublot. These sit alongside a few deals from smaller French brands and two Qatari-based deals with telecoms company Ooredoo (€15m p.a.) and Qatar National Bank, estimated at €2.3m per year.

Table 33. French Ligue 1 sponsorship revenue by type Total deal Average No of value (€m) deal value deals (€m)

Naming Rights 1.67 1.67 1 Primary Club Sponsor 57.62 2.88 20 Tier 2 Sponsor 40.41 0.3 131 Tier 3 Sponsor 12.17 0.81 15 Tier 4 Sponsor 3.85 0.77 5 Grand Total 125.72 0.73 172

In terms of sponsorship by type, primary deals lead in France largely due to the €25m p.a. PSG / Emirates deal. Tier 2 deal overall values are also boosted by PSG’s Ooredoo contract, although with 130 other second tier deals in France, most of which are low value, the average spend is just €.3m. Tier 3 deals have a high average because so many are linked to PSG which offers valuable global marketing rights and are therefore higher than second tier rights at other clubs.

As in Spain and Italy, naming rights are rare in France, the only current example being OGC Nice’s €1.67m per year agreement with Allianz.

Chart 18. French Ligue 1 sponsorship revenue by type (%)

Naming Rights Tier 3 Sponsor Tier 4 Sponsor 1% 10% 3%

Primary Club Sponsor 46%

Tier 2 Sponsor 28%

Tier 1 Sponsor 12%

European Premier Football September 1, 2014

LIGUE 1 SPONSORSHIP BY INDUSTRY

Table 34. French Ligue 1 sponsorship revenue by industry Industry Total spend Average deal No of (€m) value (€m) deals Airline 25.53 8.51 3 Telecommunications 22.18 1.23 18 Automotive 12.66 1.15 11 Retail 9.94 0.62 16 Financial Services 8.14 0.54 15 Gambling 5.31 0.89 6 Agriculture 5.00 5.00 1 Recruitment 3.23 0.46 7 Toiletries 3.08 1.54 2 Health Insurance 2.89 0.96 3

The industry profile of sponsorship in France is actually quite positive. Telecoms features highly because of Orange’s backing of the majority of clubs in which the mobile operator is also able to deliver content to fans. This provides clubs with an opportunity to work with the sponsor to deliver enhanced fan communication rather than simply representing a source of cash.

Car manufacturers are well represented with primary deals at Bordeaux (Kia), Lyons (Hyundai) and parts supplier Oscaro at Bastia.

Retail investment is much higher in France as a proportion of spend and deal numbers than other countries in Europe. This perhaps points to opportunities for the rest of Europe where the sector is traditionally the biggest spender on advertising. As with telecoms, retail can be a good way to engage with fans through vouchers, special offers and in-store promotions.

The financial services sector is relatively small in French soccer with a total investment of just over €8m. The sector is a major sponsor of other French sports, particularly tennis, rugby union and cycling and clubs perhaps need to work harder to attract investment from the sector.

Chart 19. French Ligue 1 sponsorship revenue by industry by value

Other Health Insurance Toiletries Recruitment Agriculture Gambling Financial Services Retail Automotive Telecommunications Airline

0 5 10 15 20 25 30

European Premier Football September 1, 2014

Chart 20. French Ligue 1 sponsorship revenue by industry by number of deals

Other Health Insurance Toiletries Recruitment Agriculture Gambling Financial Services Retail Automotive Telecommunications Airline

0 20 40 60 80 100

The dependence on gambling in French soccer has eased. In 2011/12, for example, four clubs had primary shirt deals with gambling companies worth an estimated €11m per year. Only St Etienne (Winamax Poker) has such a primary deal for the 2014/15 season. With alcohol sponsorship completely banned in France, there are no brewing companies on the list.

Table 35. French Ligue 1 major sponsorship spend by company Total spend Average deal No of Company (€m) value (€m) deals Emirates 24.77 24.77 1 Ooredoo 15.00 15.00 1 Intersport 6.16 6.16 1 FEDCOM 5.00 5.00 1 Hyundai 5.00 5.00 1 Orange 4.87 0.30 16 Citroën 2.93 1.46 2 Mutuelles du Soleil 2.89 0.96 3 Huawei 2.31 2.31 1 PMU 2.31 2.31 1 Qatar National Bank 2.31 2.31 1 Winamax Poker 2.16 2.16 1 Kia 2.08 2.08 1 Coca-Cola 1.93 0.96 2 Synergie 1.69 1.69 1 Allianz 1.67 1.67 1 Man 1.54 1.54 1 McDonalds 1.54 1.54 1 MoneyGram 1.54 1.54 1 Nivea 1.54 1.54 1 Panasonic 1.54 1.54 1 Puressentiel 1.54 1.54 1

European Premier Football September 1, 2014

Table 36. French Ligue 1 source of sponsorship spend by company HQ Country Total Average No of % of spend deal deals league (€m) value total (€m) France 43.41 0.32 135 34.53% Dubai 24.77 24.77 1 19.70% Qatar 17.31 8.66 2 13.77% Switzerland 7.38 1.85 4 5.87% South Korea 7.08 3.54 2 5.63% USA 5.78 1.16 5 4.59% Russia 5.00 5.00 1 3.98% Germany 4.80 1.20 4 3.82% China 3.31 1.66 2 2.63% Japan 1.61 0.80 2 1.28% Belgium 1.32 0.66 2 1.05% Canada 1.14 0.38 3 0.91% Poland 0.77 0.77 1 0.61% Gibraltar 0.67 0.33 2 0.53% Turkey 0.62 0.62 1 0.49% Azerbaijan 0.39 0.39 1 0.31% Italy 0.18 0.09 2 0.15% Malta 0.18 0.09 2 0.14%

Figures showing investment from non-French companies are again skewed by the dominance of PSG, which has signed a series of high value deals with international brands, particularly from Dubai and Qatar. Russia has a relatively prominent position due to AS Monaco’s Fedcom agreement. The club is owned, and has been bankrolled, by Russian billionaire Dmitry Rybolovlev and it will be interesting to see if his connections in the country will stimulate further sponsorship growth. To an extent Monaco’s position has been weakened by the FFP rules, which have prevented Rybolovlev from continuing to pump in his personal fortune and the club has parted company with its two star players James Rodriguez (to Real Madrid) and Radamel Falcao (on loan to Man Utd for a season). A combination of losing star players and EU sanctions against Russian companies could make it difficult for Monaco to attract significant international deals over the next few years.

European Premier Football September 1, 2014

Table 37a. French Ligue 1 sponsors by club: Monaco / St-Etienne / En Avant Value P.A. Rights Holder Company Industry Sector Status Start End (€m) As Monaco FEDCOM Agriculture Primary Club Sponsor 5.00 As Monaco Ascoma Financial Services Tier 2 Sponsor 0.31 As Monaco Monte Carlo SBM Leisure Tier 2 Sponsor 0.31 As Monaco Triangle Recruitment Tier 2 Sponsor 2013 0.46 As Monaco Afflelou Retail Tier 2 Sponsor 2014 2015 0.31 As Monaco Orange Telecommunications Tier 2 Sponsor 2013 2015 0.46 As Monaco EA Sports Video Gaming Tier 2 Sponsor 0.31 AS Saint-Etienne Winamax Poker Gambling Primary Club Sponsor 2012 2.16 AS Saint-Etienne Des Joyaux Construction Tier 2 Sponsor 0.31 AS Saint-Etienne Bewell Connect Consumer Electronics Tier 2 Sponsor 2014 2017 0.31 AS Saint-Etienne Crédit Agricole Financial Services Tier 2 Sponsor 0.92 AS Saint-Etienne Markal Food Tier 2 Sponsor 0.31 AS Saint-Etienne Despi Hospitality Tier 2 Sponsor 0.31 AS Saint-Etienne St Once Hospitality Tier 2 Sponsor 0.31 AS Saint-Etienne Triangle Interim Recruitment Tier 2 Sponsor 0.31 AS Saint-Etienne Casino Retail Tier 2 Sponsor 0.31 AS Saint-Etienne Orange Telecommunications Tier 2 Sponsor 0.31 En Avant de Guingamp Celtigel Food Primary Club Sponsor 0.77 Crédit Mutuel de En Avant de Guingamp Bretagne Financial Services Tier 2 Sponsor 0.08 En Avant de Guingamp Brieuc Food Tier 2 Sponsor 0.08 En Avant de Guingamp Geodis Logistics Tier 2 Sponsor 0.08 En Avant de Guingamp Magasins U Retail Tier 2 Sponsor 0.08 En Avant de Guingamp Breizh Cola Soft Drinks Tier 2 Sponsor 0.08 En Avant de Guingamp Orange Telecommunications Tier 2 Sponsor 0.08

European Premier Football September 1, 2014

Table 37b. French Ligue 1 sponsors by club: Thonon / Bordeaux / Lorient / Metz Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Evian Thonon MSC Crociere Leisure Primary Club Sponsor 2014 2017 0.39 Evian Thonon Bontaz Centre Automotive Tier 2 Sponsor 0.07 Evian Thonon Nissan Automotive Tier 2 Sponsor 0.07 Evian Thonon Agentil IT Tier 2 Sponsor 0.07 Evian Thonon Jetivia Logistics Tier 2 Sponsor 0.07 Evian Thonon Provencia Retail Tier 2 Sponsor 0.07 Evian Thonon Orange Telecommunications Tier 2 Sponsor 0.07 Evian Thonon Haute Savoie Tourism Tier 2 Sponsor 0.07 Evian Thonon Les Gets Tourism Tier 2 Sponsor 0.07 Evian Thonon SAT Transport Tier 2 Sponsor 0.07 FC Girondins de Bordeaux Kia Automotive Primary Club Sponsor 2013 2.08 FC Girondins de Bordeaux Pichet Property Tier 2 Sponsor 0.27 FC Girondins de Bordeaux Cdiscount.com Retail Tier 2 Sponsor 0.27 FC Lorient B&B Hotels Leisure Primary Club Sponsor 0.54 FC Lorient Credit Mutuel de Bretagne Financial Services Tier 2 Sponsor 0.08 FC Lorient Lorient Government Tier 2 Sponsor 0.08 FC Lorient Salaun Leisure Tier 2 Sponsor 0.08 FC Metz Moselle Government Primary Club Sponsor 1.31 FC Metz Theobald Volvo Automotive Tier 2 Sponsor 0.08 FC Metz La Region Lorraine Government Tier 2 Sponsor 0.08 FC Metz Metz Government Tier 2 Sponsor 0.08 FC Metz Le Republicain Lorrain Media Tier 2 Sponsor 0.08 FC Metz Inter-conseil Recruitment Tier 2 Sponsor 0.08 FC Metz Bigben Interactive Video Gaming Tier 2 Sponsor 0.08

European Premier Football September 1, 2014

Table 37c. French Ligue 1 sponsors by club: Lille / Montpellier / Nantes Value Rights Holder Company Industry Sector Status Start End P.A. (€m) Lille Olympique SC Etixx Sports Nutrition Primary Club Sponsor 2014 2015 1.23 Lille Olympique SC Credit Mutuel Nord Europe Financial Services Tier 2 Sponsor 0.12 Lille Olympique SC NetBet Gambling Tier 2 Sponsor 0.12 Lille Olympique SC St Once Hospitality Tier 2 Sponsor 0.12 Lille Olympique SC DLSI Recruitment Tier 2 Sponsor 2014 0.12 Lille Olympique SC DLSI Recruitment Tier 2 Sponsor 0.12 Lille Olympique SC Intermarche Retail Tier 2 Sponsor 0.12 Lille Olympique SC Orange Telecommunications Tier 2 Sponsor 0.12 Lille Olympique SC Vacansoleil Tourism Tier 2 Sponsor 2014 2016 0.12 Montpellier Herault SC Sud de France Export Government Primary Club Sponsor 2011 0.69 Montpellier Herault SC Wati B Fashion Tier 2 Sponsor 0.07 Montpellier Herault SC Mutuelles du Soleil Health Insurance Tier 2 Sponsor 0.12 Montpellier Herault SC Dyneff Petroleum Tier 2 Sponsor 0.15 Montpellier Herault SC Groupe Nicolin Waste Management Tier 2 Sponsor 0.07 Montpellier Herault SC Faun Environment Automotive Tier 3 Sponsor 0.05 Montpellier Herault SC Magasins U Retail Tier 3 Sponsor 0.05 Montpellier Herault SC Orange Telecommunications Tier 3 Sponsor 0.05 Montpellier Herault SC EuroPoker Gambling Tier 3 Sponsor 0.05 Nantes Synergie Recruitment Primary Club Sponsor 1.69 Nantes Anvolia Construction Tier 2 Sponsor 0.69 Nantes Vitrans Construction Services Tier 2 Sponsor 2014 0.08 Nantes Nantes Metropole Government Tier 2 Sponsor 0.08 Nantes Proginov IT Tier 2 Sponsor 2014 2017 0.08 Nantes Magasins U Retail Tier 2 Sponsor 2014 0.08 Nantes Etixx Sports Nutrition Tier 2 Sponsor 2014 2017 0.08 Nantes Orange Telecommunications Tier 2 Sponsor 0.08

European Premier Football September 1, 2014

Table 37d. French Ligue 1 sponsors by club: Nice / Marseille / Lyonnais Value Rights Holder Company Industry Sector Status Start End P.A. (€m) OGC Nice Allianz Financial Services Naming Rights 2012 2021 1.67 OGC Nice Mutuelles du Soleil Health Insurance Primary Club Sponsor 1.54 OGC Nice Remanence Contract cleaning Tier 2 Sponsor 0.12 OGC Nice Crédit Agricole Financial Services Tier 2 Sponsor 2013 0.12 OGC Nice Conseil General des Alpes-Maritimes Government Tier 2 Sponsor 0.12 OGC Nice Ville de Nice Government Tier 2 Sponsor 0.12 OGC Nice Nice-Matin Media Tier 2 Sponsor 0.12 OGC Nice Orange Telecommunications Tier 2 Sponsor 2012 2015 0.12 OGC Nice Pizzorno Environment Waste Management Tier 2 Sponsor 0.12 Olympique de Marseille Intersport Retail Primary Club Sponsor 2013 2015 6.16 Olympique de Marseille Turkish Airlines Airline Tier 2 Sponsor 2013 2014 0.62 Olympique de Marseille Citroën Automotive Tier 2 Sponsor 0.62 Olympique de Marseille Caisse d'Epargne Financial Services Tier 2 Sponsor 0.62 Olympique de Marseille Bwin Gambling Tier 2 Sponsor 2013 0.62 Olympique de Marseille Mutuelles du Soleil Health Insurance Tier 2 Sponsor 1.23 Olympique de Marseille Orange Telecommunications Tier 2 Sponsor 2013 2015 0.62 Olympique de Marseille Quick Restaurants Tier 3 Sponsor 0.39 Olympique de Marseille Coca-Cola Soft Drinks Tier 3 Sponsor 0.39 Olympique Lyonnais Hyundai Automotive Primary Club Sponsor 2012 2014 5.00 Olympique Lyonnais Oknoplast Construction Products Tier 2 Sponsor 2013 2015 0.77 Olympique Lyonnais Veolia Environmental Services Tier 2 Sponsor 0.20 Olympique Lyonnais Cegid IT Tier 2 Sponsor 1.16 Olympique Lyonnais Intermarche Retail Tier 2 Sponsor 0.20 Olympique Lyonnais MDA Retail Tier 2 Sponsor 1.16 Olympique Lyonnais Dalkia Energy Tier 3 Sponsor 0.20 Olympique Lyonnais Orange Telecommunications Tier 3 Sponsor 0.20

European Premier Football September 1, 2014

Table 37e. French Ligue 1 sponsors by club: Paris Saint-Germain Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Paris Saint-Germain Emirates Airline Primary Club Sponsor 2013 2019 24.77 Paris Saint-Germain Ooredoo Telecommunications Tier 2 Sponsor 2013 2018 15.00 Paris Saint-Germain Citroën Automotive Tier 2 Sponsor 2014 2017 2.31 Qatar National Paris Saint-Germain Bank Financial Services Tier 2 Sponsor 2013 2016 2.31 Paris Saint-Germain PMU Gambling Tier 2 Sponsor 2014 2018 2.31 Paris Saint-Germain Huawei Telecommunications Tier 2 Sponsor 2014 2017 2.31 Paris Saint-Germain Orange Telecommunications Tier 2 Sponsor 2.31 Paris Saint-Germain Man Automotive Tier 3 Sponsor 1.54 Paris Saint-Germain Panasonic Consumer Electronics Tier 3 Sponsor 2013 1.54 Paris Saint-Germain MoneyGram Financial Services Tier 3 Sponsor 2013 2016 1.54 Paris Saint-Germain McDonalds Restaurants Tier 3 Sponsor 2013 2015 1.54 Paris Saint-Germain Coca-Cola Soft Drinks Tier 3 Sponsor 1.54 Paris Saint-Germain Nivea Toileteries Tier 3 Sponsor 2013 2016 1.54 Paris Saint-Germain Puressentiel Toileteries Tier 3 Sponsor 1.54 Paris Saint-Germain G.H Mumm Alcohol Tier 4 Sponsor 0.77 Paris Saint-Germain Microsoft IT Tier 4 Sponsor 2013 0.77 Paris Saint-Germain GO Sport Retail Tier 4 Sponsor 2014 2017 0.77 Paris Saint-Germain Hublot Time Keeping Tier 4 Sponsor 2013 2016 0.77 Paris Saint-Germain EA Sports Video Gaming Tier 4 Sponsor 0.77

European Premier Football September 1, 2014

Table 37f. French Ligue 1 sponsors by club: Lens / Bastia / Caen Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Racing Club de Lens Azerbaijan National Promotion Primary Club Sponsor 0.39 Racing Club de Lens Crédit Agricole Financial Services Tier 2 Sponsor 0.06 Racing Club de Lens McCain Food Tier 2 Sponsor 0.06 Racing Club de Lens Unibet Gambling Tier 2 Sponsor 0.06 Racing Club de Lens Pas de Calais Regional Promotion Tier 2 Sponsor 0.06 Racing Club de Lens Gamm vert Retail Tier 2 Sponsor 0.06 Racing Club de Lens Invicta Stoves Tier 2 Sponsor 0.06 Racing Club de Lens Orange Telecommunications Tier 2 Sponsor 0.06 SC Bastia Oscaro Automotive Primary Club Sponsor 0.77 SC Bastia Air Corsica Airline Tier 2 Sponsor 0.14 SC Bastia Technitoit Property Tier 2 Sponsor 0.14 SC Bastia Geant Retail Tier 2 Sponsor 0.14 SC Bastia Orange Telecommunications Tier 2 Sponsor 0.14 SC Bastia Corsica Ferries Transport Tier 2 Sponsor 2011 2014 0.14 SM Caen GDE Recycling Primary Club Sponsor 0.69 SM Caen Wati B Fashion Tier 2 Sponsor 0.23 SM Caen Campagne Food Tier 2 Sponsor 0.23 SM Caen IDEC Property Tier 2 Sponsor 0.23

European Premier Football September 1, 2014

Table 37g. French Ligue 1 sponsors by club: Reims / Rennais Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Stade de Reims Sanei Construction Products Primary Club Sponsor 2013 2016 1.00 Stade de Reims Jipe Construction Tier 2 Sponsor 0.09 Stade de Reims Ville de Reims Government Tier 2 Sponsor 0.09 Stade de Reims DMP Traiteur Hospitality Tier 2 Sponsor 0.09 Stade de Reims Caillot Logistics Tier 2 Sponsor 0.09 Stade de Reims Geodis Logistics Tier 2 Sponsor 0.09 Stade de Reims Frey Property Tier 2 Sponsor 0.09 Stade de Reims L'edito Restaurants Tier 2 Sponsor 0.09 Stade de Reims OMP Sports equipment Tier 2 Sponsor 0.09 Stade de Reims Orange Telecommunications Tier 2 Sponsor 0.09 Stade Rennais FC Samsic Property Primary Club Sponsor 2013 2016 0.99 Stade Rennais FC Armor Lux Fashion Tier 2 Sponsor 0.09 Credit Mutuel de Stade Rennais FC Bretagne Financial Services Tier 2 Sponsor 0.09 Stade Rennais FC Rennes Government Tier 2 Sponsor 0.09 Stade Rennais FC Blot Property Tier 2 Sponsor 2013 0.39 Stade Rennais FC Groupe Launay Property Tier 2 Sponsor 0.09 Stade Rennais FC Del Arte Restaurants Tier 2 Sponsor 2013 2016 0.09 Stade Rennais FC Magasins U Retail Tier 2 Sponsor 0.09 Stade Rennais FC Breizh Cola Soft Drinks Tier 2 Sponsor 0.09 Stade Rennais FC Orange Telecommunications Tier 2 Sponsor 0.09 Stade Rennais FC Bretagne Structures Temporary Structures Tier 2 Sponsor 0.09

European Premier Football September 1, 2014

Table 37h. French Ligue 1 sponsors by club: Toulouse Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Toulouse FC Triangle Interim Recruitment Primary Club Sponsor 0.46 Toulouse FC De Boussac Automotive Tier 2 Sponsor 0.08 Toulouse FC Newrest Catering Tier 2 Sponsor 0.08 Toulouse FC Groupe IGS Education Tier 2 Sponsor 2014 0.08 Toulouse FC Banque Populaire Financial Services Tier 2 Sponsor 0.08 Toulouse FC Caisse d'Epargne Financial Services Tier 2 Sponsor 0.08 Toulouse FC Prevoir Assurances Financial Services Tier 2 Sponsor 2014 0.08 Toulouse FC Natur House Healthcare Tier 2 Sponsor 0.08 Toulouse FC La Depeche Media Tier 2 Sponsor 0.08 Toulouse FC LP Promotion Property Tier 2 Sponsor 0.08 Toulouse FC Quick Restaurants Tier 2 Sponsor 0.08 Toulouse FC Intermarche Retail Tier 2 Sponsor 0.08 Toulouse FC Orange Telecommunications Tier 2 Sponsor 2012 2015 0.08 Toulouse FC Nicopatch Tobacco Tier 2 Sponsor 0.08

European Premier Football September 1, 2014

NETHERLANDS – EREDIVISIE

PROFESSIONAL APPROACH – BUT LACKING CRITICAL MASS

Dutch soccer has punched above its weight since Johan Cruyff and Ajax burst onto the scene in the early 1970s. At both club and national level, the country has produced quality teams and players and has been a by-word for attractive play and organisation.

But the country’s relatively small population of just below 17 million means that Dutch clubs struggle to compete in Europe and even when Ajax were crowned European Champions in the 1970s and 1990s, the top Dutch players tended to ply their trade in Spain or Italy. There are simply not enough people in the Netherlands to sustain a league competitive with the best in Europe.

Despite impressive stadia and big crowds at Ajax and Feyenoord in particular, average attendance at fourth ranked FC Twente is below 30,000 and although the 19,557 overall average per match is an impressive achievement, especially given the fact that the figure was around 7,000 in the early 1990s, four clubs average fewer than 10,000 fans per match.

TV revenues for the Eredivisie are, likewise, well below those of their major European competitors and global TV exposure is small in comparison. Leading club, Ajax had gross a turnover of €107m for the 2012/13 season, a significant achievement in such a small country, but to put this into context, it is less than Manchester United earns from its sponsorship operations.

Table 38. Dutch Eredivisie sponsorship revenue by club (€m) Club Total Average No of % of income deal deals league (€m) value total (€m) Ajax 14.31 3.58 4 25% PSV Eindhoven 10.85 1.09 10 19% Feyenoord 6.31 0.53 12 11% SC Heerenveen 3.38 0.84 4 6% AZ Alkmaar 3.31 0.47 7 6% FC Groningen 2.33 0.19 12 4% FC Twente 2.13 0.24 9 4% Vitesse Arnhem 2.07 0.26 8 4% ADO Den Haag 1.77 0.18 10 3% NAC Breda 1.62 0.18 9 3% Heracles Almelo 1.60 0.18 9 3% SC Cambuur 1.59 0.12 13 3% FC Utrecht 1.50 0.25 6 3% PEC Zwolle 1.02 0.17 6 2% Willem II 1.00 0.08 12 2% Go Ahead Eagles 0.97 0.10 10 2% Deventer FC Dordrecht 0.75 0.08 10 1% Excelsior 0.71 0.14 5 1%

The big three clubs, Ajax, PSV and Feyenoord account for 45% of all sponsorship revenue. PSV stands above Feyenoord in the table mainly because of the backing of Philips through its primary

European Premier Football September 1, 2014 sponsorship and naming rights agreements. PSV is the Philips ‘factory’ team and the electronics giant has funded the club since the 1930s. Feyenoord, despite having a higher average attendance, has a slightly smaller primary deal with Opel, worth €5m per year.

Outside the big three, primary deals drop off in value to around €2m per year for most mid-ranking clubs although Heerenveen managed to realise €2.8m from its deal with insurer Univé.

Table 39. Dutch Eredivisie sponsorship revenue by type Total deal Average No of value (€m) deal value deals (€m)

Naming Rights 2.76 0.69 4 Primary Club Sponsor 39.57 2.20 18 Tier 2 Sponsor 12.33 0.13 93 Tier 3 Sponsor 2.56 0.06 41 Grand Total 57.22 0.37 156

Naming rights are more acceptable to Dutch fans and media than in the southern European countries with four clubs taking such sponsorship. Aside from PSV, those clubs are Dordrecht, ADO Den Haag and Alkmaar, but the deals are quite small at under €1m each. Interestingly the relatively new Amsterdam Arena, home to Ajax and opened in 1996, did not seek a naming partner. At the time, naming rights were not common in Europe and to switch to a sponsored name now would be difficult, but not impossible for the club. This could net around €3m per year should the option be explored.

Chart 21. Dutch Eredivisie sponsorship revenue by type (%)

Tier 3 Sponsor Naming Rights 4% Tier 2 Sponsor 5% 22%

Primary Club Sponsor 69%

With little value in naming rights, the vast majority of sponsorship revenue comes from primary shirt deals. Secondary rights are relatively small due to clubs not having the necessary global appeal to create high-value partnerships.

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EREDIVISIE SPONSORSHIP BY INDUSTRY

Table 40. Dutch Eredivisie sponsorship revenue by industry Industry Total Average No of spend deal value deals (€m) (€m) Financial Services 18.41 0.92 20 Consumer Electronics 8.45 2.82 3 Automotive 6.31 0.53 12 IT 4.29 0.43 10 Telecommunications 2.91 0.73 4 Alcohol 2.43 0.15 16 Leisure 1.90 0.48 4 Energy 1.68 0.56 3 Construction 1.29 0.21 6 Gambling 1.19 0.17 7

The sponsorship profile in the Eredivisie can be considered mature with IT and telecommunications featuring reasonably strongly. Both offer clubs more than just cash – in-kind elements of these deals help with business management and communication.

The strength of the financial services sector, which leads in terms of both value and deal numbers, is also an indicator of sponsorship maturity given that most of the world’s highly developed sponsorship markets and sports have banking and insurance companies as leading investors. AEGON’s €12m annual deal with Ajax makes it the biggest investor overall, but there are also primary deals between Excelsior and DSW, FC Twente and XXIMO and Univé and Heerenveen. Rabobank, on the other hand, has opted for a series of lower value deals across seven clubs.

Chart 22. Dutch Eredivisie sponsorship revenue by industry by value

Other Gambling Construction Energy Leisure Alcohol Telecommunications IT Automotive Consumer Electronics Financial Services

0 5 10 15 20

Of the 12 deals from the car industry, only Feyenoord’s primary shirt rights with Opel is of a significant size. With the exception of two Mercedes sponsorships (PSV and Breda) and Excelsior’s tie up with Toyota, the remainder in the sector are predominantly dealerships.

European Premier Football September 1, 2014

There are a large number of alcohol deals in the country, hardly surprising given the size of its brewing industry. Locally produced brands such as Amstel, Heineken, Bavaria, Grolsch and Schrobbeler dominate, with Belgium’s Jupiler, which has title rights to the Dutch second division, being the only other sponsor.

Chart 23. Dutch Eredivisie sponsorship revenue by industry by number of deals

Other Gambling Construction Energy Leisure Alcohol Telecommunications IT Automotive Consumer Electronics Financial Services

0 10 20 30 40 50 60 70 80

Table 41. Dutch Eredivisie major sponsorship spend by company Company Total Average No of spend deal value deals (€m) (€m)

AEGON 12.00 12.00 1 Philips 8.39 4.19 2 Opel 5.01 5.01 1 Univé 2.80 2.80 1 AFAS 2.00 2.00 1 Essent 1.50 1.50 1 XXIMO 1.39 1.39 1 Truphone 1.16 1.16 1 Vrienden Loterij 1.08 0.22 5 Health City 1.08 1.08 1 Jupiler 0.95 0.24 4 Into Telecom 0.92 0.92 1 TenCate 0.92 0.92 1 Bouwgroep Dijkstra Draisma 0.85 0.85 1 Rabobank 0.85 0.12 7 Amstel 0.82 0.14 6 AFAS 0.77 0.77 1 Huawei 0.77 0.77 1 Basic-Fit Fitness 0.70 0.70 1 Trustbrix 0.69 0.69 1

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Table 42. Dutch Eredivisie source of sponsorship spend by company HQ Country Total Average No of % of spend deal deals league (€m) value total (€m) Netherlands 44.74 0.33 134 78.20% Germany 5.69 0.95 6 9.95% Belgium 3.72 0.62 6 6.50% UK 1.16 1.16 1 2.02% China 0.94 0.31 3 1.64% Japan 0.65 0.33 2 1.14% USA 0.14 0.07 2 0.24% Cyprus 0.12 0.12 1 0.20% South Korea 0.06 0.06 1 0.11%

Table 42 shows that Dutch companies are overwhelmingly the dominant investors in the league with 78% of total spend. Immediate neighbours Germany and Belgium are the other significant contributors. Of these, Belgian IT company AFAS and German car maker Opel (a General Motors subsidiary) represent the only foreign primary shirt sponsors.

These statistics again underline the fact that the Eredivisie is not a league with a high enough international profile to attract significant deals from major global brands despite the undoubted maturity of the sponsorship industry in the Netherlands.

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Table 43a. Dutch Eredivisie sponsors by club: ADO DH / Ajax / Alkmaar / Excelsior Value P.A. Rights Holder Company Industry Sector Status Start End (€m) ADO Den Haag Kyocera Digital imaging Naming Rights 2010 0.58 ADO Den Haag Basic-Fit Fitness Leisure Primary Club Sponsor 0.70 ADO Den Haag Kumho Tyres Automotive Products Tier 2 Sponsor 0.06 ADO Den Haag Rabobank Financial Services Tier 2 Sponsor 0.06 ADO Den Haag Van Arkel Financial Services Tier 2 Sponsor 0.06 ADO Den Haag Azivo Health Insurance Tier 2 Sponsor 0.06 ADO Den Haag Star Balm Healthcare Tier 2 Sponsor 0.06 ADO Den Haag AD Media Tier 2 Sponsor 0.06 ADO Den Haag Vrojlijk Property Services Tier 2 Sponsor 0.06 ADO Den Haag Dong Dao Trading Tier 2 Sponsor 0.06 Ajax AEGON Financial Services Primary Club Sponsor 2008 2015 12.00 Ajax Jupiler Alcohol Tier 2 Sponsor 2012 2015 0.77 Ajax Vrienden Loterij Gambling Tier 2 Sponsor 0.77 Ajax Huawei Telecommunications Tier 2 Sponsor 0.77 AZ Alkmaar AFAS IT Naming rights 2009 0.77 AZ Alkmaar AFAS IT Primary Club Sponsor 2013 2.00 AZ Alkmaar Amstel Alcohol Tier 2 Sponsor 0.11 AZ Alkmaar Duetz Fashion Tier 2 Sponsor 0.11 AZ Alkmaar Rabobank Financial Services Tier 2 Sponsor 2014 2017 0.11 AZ Alkmaar Deng Dao Packaging Tier 2 Sponsor 0.11 AZ Alkmaar Ruitenheer Property Tier 2 Sponsor 0.11 Excelsior DSW Financial Services Primary Club Sponsor 2011 0.40 Excelsior Jupiler Alcohol Tier 2 Sponsor 0.08 Excelsior Toyota Automotive Tier 2 Sponsor 0.08 Excelsior Quooker Domestic appliances Tier 2 Sponsor 0.08 Excelsior Van Arkel Financial Services Tier 2 Sponsor 0.08

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Table 43b. Dutch Eredivisie sponsors by club: Dordrecht / Groningen Value P.A. Rights Holder Company Industry Sector Status Start End (€m) FC Dordrecht GN Bouw Construction Naming Rights 0.03 Construction FC Dordrecht Riwal Equipment Primary Club Sponsor 0.23 FC Dordrecht Ballast Nedam Construction Tier 2 Sponsor 0.06 FC Dordrecht Trust Consumer Electronics Tier 2 Sponsor 0.06 FC Dordrecht VLS Contract cleaning Tier 2 Sponsor 0.06 FC Dordrecht Rabobank Financial Services Tier 2 Sponsor 0.06 FC Dordrecht WSB Solutions IT Tier 2 Sponsor 0.06 FC Dordrecht Plan@Office Property Tier 2 Sponsor 0.06 FC Dordrecht Caes van der Poel Retail Tier 2 Sponsor 0.06 FC Dordrecht Sport Direct.com Retail Tier 2 Sponsor 0.06 FC Groningen Essent Energy Primary Club Sponsor 2011 1.50 FC Groningen BAM Infratechniek Construction Tier 2 Sponsor 0.09 FC Groningen GasTerra Energy Tier 2 Sponsor 0.09 FC Groningen Gasunie Energy Tier 2 Sponsor 0.09 FC Groningen Imtech IT Tier 2 Sponsor 0.09 FC Groningen Groningen Seaports Transport Tier 2 Sponsor 0.09 FC Groningen Amstel Alcohol Tier 3 Sponsor 0.06 FC Groningen Noordlease Automotive Tier 3 Sponsor 0.06 FC Groningen MTH Accountants Financial Services Tier 3 Sponsor 0.06 FC Groningen Rabobank Financial Services Tier 3 Sponsor 0.06 FC Groningen Fair Play Casino Gambling Tier 3 Sponsor 0.06 FC Groningen Prima Personeel Recruitment Tier 3 Sponsor 0.06

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Table 43c. Dutch Eredivisie sponsors by club: Twente / Utrecht Value P.A. Rights Holder Company Industry Sector Status Start End (€m) FC Twente XXIMO Financial Services Primary Club Sponsor 2013 2015 1.39 FC Twente Grolsch Alcohol Tier 2 Sponsor 2014 2016 0.09 FC Twente Huiskes Kokkeler Automotive Tier 2 Sponsor 0.09 FC Twente Zwanenberg Food Tier 2 Sponsor 0.09 FC Twente Menzis Health Insurance Tier 2 Sponsor 0.09 FC Twente Switch IT Tier 2 Sponsor 0.09 FC Twente Asito Property Tier 2 Sponsor 0.09 FC Twente Roetgerink Retail Tier 2 Sponsor 2013 2014 0.09 FC Twente Arke Tourism Tier 2 Sponsor 2013 0.09 FC Utrecht Health City Leisure Primary Club Sponsor 2012 2015 1.08 FC Utrecht YEAU! Soft Drinks Tier 2 Sponsor 0.08 FC Utrecht Amstel Alcohol Tier 3 Sponsor 0.08 FC Utrecht Stam Opel Automotive Tier 3 Sponsor 0.08 FC Utrecht Vrienden Loterij Gambling Tier 3 Sponsor 2011 0.08 FC Utrecht Voetbalshop Retail Tier 3 Sponsor 0.08

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Table 43d. Dutch Eredivisie sponsors by club: Feyenoord / Deventer Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Feyenoord Opel Automotive Primary Club Sponsor 2013 2017 5.01 Feyenoord Amstel Alcohol Tier 2 Sponsor 2011 2014 0.31 Feyenoord EZ Trader Financial Services Tier 2 Sponsor 2014 2017 0.12 Feyenoord HDI Gerling Financial Services Tier 2 Sponsor 0.12 Feyenoord Vrienden Loterij Gambling Tier 2 Sponsor 0.12 Feyenoord Metro Media Tier 2 Sponsor 0.12 Feyenoord Drukwerk Max Printing Tier 2 Sponsor 0.12 Feyenoord RET Transport Tier 2 Sponsor 0.12 Feyenoord Weber Beamix Construction Products Tier 3 Sponsor 0.08 Feyenoord Hagero Retail Tier 3 Sponsor 0.08 Feyenoord Pepsi Soft Drinks Tier 3 Sponsor 0.08 Feyenoord ATPI Travel Tier 3 Sponsor 0.08 Go Ahead Eagles Deventer Drukwerkdeal Printing Primary Club Sponsor 0.54 Go Ahead Eagles Deventer Drogisterij Retail Tier 2 Sponsor 0.06 Go Ahead Eagles Deventer Grolsch Alcohol Tier 3 Sponsor 0.05 Go Ahead Eagles Deventer Autowereld Automotive Tier 3 Sponsor 0.05 Go Ahead Eagles Deventer Bosgoed Holding Construction Products Tier 3 Sponsor 0.05 Go Ahead Eagles Deventer Intermontage Construction Products Tier 3 Sponsor 0.05 Go Ahead Eagles Deventer Karel Lassche Gambling Tier 3 Sponsor 0.05 Boode in Go Ahead Eagles Deventer Bathmen Leisure Tier 3 Sponsor 0.05 Go Ahead Eagles Deventer Coldec Paints Tier 3 Sponsor 0.05 Go Ahead Eagles Deventer Eykelenkamp Retail Tier 3 Sponsor 0.05

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Table 43e. Dutch Eredivisie sponsors by club: Almelo / Breda / Zwolle Value P.A. Rights Holder Company Industry Sector Status Start End (€m) Heracles Almelo TenCate Industrial Primary Club Sponsor 2013 0.92 Heracles Almelo Heineken Alcohol Tier 2 Sponsor 0.08 Heracles Almelo ZGT Healthcare Tier 2 Sponsor 0.08 Heracles Almelo Reware IT Tier 2 Sponsor 0.08 Heracles Almelo Vinden.nl Media Tier 2 Sponsor 0.08 Heracles Almelo Asito Property Tier 2 Sponsor 0.08 Heracles Almelo Assenberg Property Tier 2 Sponsor 0.08 Heracles Almelo Jac Hensen Retail Tier 2 Sponsor 0.08 Heracles Almelo Greenfields Sports Equipment Tier 2 Sponsor 0.08 NAC Breda Into Telecom Telecommunications Primary Club Sponsor 2012 2015 0.92 NAC Breda GoodMorning Property Tier 2 Sponsor 0.15 NAC Breda Bavaria Alcohol Tier 3 Sponsor 0.08 NAC Breda Mercedes Automotive Tier 3 Sponsor 0.08 NAC Breda Mentos Food Tier 3 Sponsor 0.08 NAC Breda Sports Exposure Marketing Tier 3 Sponsor 0.08 NAC Breda Azalp Retail Tier 3 Sponsor 0.08 NAC Breda Jumbo Retail Tier 3 Sponsor 0.08 NAC Breda Sunweb Tourism Tier 3 Sponsor 0.08 PEC Zwolle Trustbrix IT Primary Club Sponsor 2014 2015 0.69 PEC Zwolle Molecaten Leisure Tier 2 Sponsor 0.08 PEC Zwolle Firezone Retail Tier 2 Sponsor 0.08 PEC Zwolle Oldenhof Retail Tier 2 Sponsor 0.08 PEC Zwolle Jupiler Alcohol Tier 3 Sponsor 0.05 PEC Zwolle Vrienden Loterij Gambling Tier 3 Sponsor 0.05

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Table 43f. Dutch Eredivisie sponsors by club: PSV / Cambuur Value P.A. Rights Holder Company Industry Sector Status Start End (€m) PSV Eindhoven Philips Consumer Electronics Naming Rights 1913 1.39 PSV Eindhoven Philips Consumer Electronics Primary Club Sponsor 2011 2016 7.00 PSV Eindhoven Bavaria Alcohol Tier 2 Sponsor 2010 2014 0.31 PSV Eindhoven Mercedes Automotive Tier 2 Sponsor 0.31 PSV Eindhoven VDL Automotive Tier 2 Sponsor 0.31 PSV Eindhoven Freo Financial Services Tier 2 Sponsor 2011 0.31 PSV Eindhoven Rabobank Financial Services Tier 2 Sponsor 0.31 PSV Eindhoven Mandemakers Home improvements Tier 2 Sponsor 0.31 PSV Eindhoven Axians IT Tier 2 Sponsor 0.31 PSV Eindhoven Driessen Recruitment Tier 2 Sponsor 0.31 Bouwgroep Dijkstra SC Cambuur Draisma Construction Primary Club Sponsor 2014 2015 0.85 SC Cambuur Amstel Alcohol Tier 2 Sponsor 0.06 SC Cambuur Engelsma Wijnia Automotive Tier 2 Sponsor 0.06 SC Cambuur Pranger-Rosier Construction Tier 2 Sponsor 0.06 SC Cambuur Faber Vlaggen Flags & banners Tier 2 Sponsor 0.06 SC Cambuur Burger King Food Tier 2 Sponsor 0.06 SC Cambuur LEVO Food Tier 2 Sponsor 0.06 SC Cambuur Vrienden Loterij Gambling Tier 2 Sponsor 0.06 SC Cambuur Pax Groep Logistics Tier 2 Sponsor 0.06 SC Cambuur Friks Marketing Tier 2 Sponsor 0.06 SC Cambuur Leyten Property Tier 2 Sponsor 0.06 SC Cambuur PLUS Retail Tier 2 Sponsor 0.06 SC Cambuur KPN Telecommunications Tier 2 Sponsor 0.06

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Table 43g. Dutch Eredivisie sponsors by club: Heerenveen / Arnhem / Willem II Value P.A. Rights Holder Company Industry Sector Status Start End (€m) SC Heerenveen Univé Financial Services Primary Club Sponsor 2013 2015 2.80 SC Heerenveen Amstel Alcohol Tier 2 Sponsor 0.19 SC Heerenveen Van Wijnen Construction Tier 2 Sponsor 0.19 SC Heerenveen Rabobank Financial Services Tier 2 Sponsor 0.19 Vitesse Arnhem Truphone Telecommunications Primary Club Sponsor 2014 2017 1.16 Vitesse Arnhem Zijm Automotive Tier 2 Sponsor 0.13 Vitesse Arnhem VWGNijhof Financial Services Tier 2 Sponsor 0.13 Vitesse Arnhem Menzis Health Insurance Tier 2 Sponsor 0.13 Vitesse Arnhem Unica Schutte IT Tier 2 Sponsor 0.13 Vitesse Arnhem Only for Men Retail Tier 2 Sponsor 0.13 Vitesse Arnhem Connexxion Transport Tier 2 Sponsor 0.13 Vitesse Arnhem Personenvervoer Transport Tier 2 Sponsor 0.13 Willem II Tricorp Fashion Primary Club Sponsor 2014 2016 0.39 Willem II DPD Logistics Tier 2 Sponsor 0.08 Willem II Jupiler Alcohol Tier 3 Sponsor 0.05 Willem II Schrobbeler Alcohol Tier 3 Sponsor 0.05 Willem II Van Mossel Automotive Tier 3 Sponsor 0.05 Willem II Interpolis Financial Services Tier 3 Sponsor 0.05 Willem II Joore Financial Services Tier 3 Sponsor 0.05 Willem II Rabobank Financial Services Tier 3 Sponsor 0.05 Willem II Indicia IT Tier 3 Sponsor 0.05 Willem II email International Marketing Tier 3 Sponsor 0.05 Willem II Q-Promotions Printing Tier 3 Sponsor 0.05 Willem II hit Profit Procurement Tier 3 Sponsor 0.05

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