Insurer paid £91m for stake

German insurance group Allianz has bought an 8.3% stake in football club Bayern-Munich for €110m (£91.4m).

Under the deal, Allianz will maintain the right to call Bayern-Munich’s stadium the Allianz Arena until 2041.

Also, the presence of Allianz in the stadium and in Bayern-Munich’s brand identity will be strengthened, and tailor-made insurance products will be offered to fans on the football club’s website.

Bayern-Munich will use the money from Allianz to repay debt and set up a youth football centre.