According to reports in Bild am Sonntag, Hannover 96, Werder Bremen, Schalke 04 and 1860 Munich football clubs are very likely to lose sponsorship from the German automaker.
Volkawagen’s sponsorship of Bundesliga clubs proves to be a collateral victim of the cheating emissions scandal, as no less than three football clubs from the German first division (Hannover 96, Werder Bremen, Schalke 04) and a forth from the second division (1860 Munich) are facing significant sponsorship cuts. Until the scandal, Volkswagen used to spend approximately 1.5 million Euro on each of these clubs. Despite the news, Volkswagen confirms that they are still keen to support the game through sustainable sponsorship in the future. A source from the automaker declared on Sunday: “It has not yet been decided what the volume of that will be.”
Another collateral victim is the ice hockey club Grizzlys Wolfsburg, which is likely to lose a five-million Euro per year sponsorship, also coming from Volkswagen. As a direct result of this cut in sponsorship, VfL Wolfsburg intends to delay its plan to build a brand-new youth center, worth several million Euro.
Volkswagen published last Friday its 2016 investment plan, the first after the cataclysmic scandal that hit the car manufacturer back in September, when the US regulators revealed that Europe’s most successful automaker installed cheating software into its diesel cars, in order to fake the true level of their toxic emissions. Volkswagen admitted to being guilty and plunged into its worst business crisis in its 78-year long existence. Now, the new investment plan shows a cut of around one billion Euro, but experts predict the scandal will push the damage costs much higher, to almost 35 billion Euro, in lawsuits, fines and loads of vehicle refits, especially in the US market.
Via The Guardian