Deutsche Bank in talks with home soccer team to expand partnership - source

  • Football
  • Sunday, 08 Mar 2020

FILE PHOTO: The financial district with the headquarters of Germany's largest business bank, Deutsche Bank, is photographed on early evening in Frankfurt, Germany, January 29, 2019. REUTERS/Kai Pfaffenbach/File Photo

FRANKFURT (Reuters) - Deutsche Bank, seeking to strengthen its footing in Germany, is in talks to expand a business partnership with Frankfurt's soccer team Eintracht, a person with knowledge of the matter said on Sunday.

If successful, the deal would be a blow to rival Commerzbank, whose name and logo have graced Eintracht's home stadium for more than a decade.

Deutsche Bank and Commerzbank last year ditched talks to merge. Deutsche, in the midst of a strategic overhaul and years of losses, has reduced its global footprint to focus more on its home market.

Both banks declined to comment. Eintracht did not immediately respond to a request for comment outside of business hours.

The Frankfurter Allgemeine Sonntagszeitung first reported the talks.

Deutsche Bank currently is working on a payment system with Eintracht for events at the stadium.

"We are talking to Eintracht about extending our business partnership," the person said, adding that talks involved sponsorship, naming rights and regional engagement.

(Reporting by Tom Sims; editing by Edward Taylor and Louise Heavens)

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