HSH Nordbank terminating naming-rights agreement with HSV
Hamburg, June 26, 2009 - HSH Nordbank will give up its naming rights to the stadium of the Hamburg Soccer Club (HSV) after the upcoming season of Germany’s premier soccer league, the Bundesliga. The agreement will terminate as scheduled on June 30, 2010.
“We have enjoyed our successful collaboration with HSV over the past years,” said Dirk Jens Nonnenmacher, CEO of HSH Nordbank. “HSV is a real brand ambassador. However, any credible and resolute restructuring of HSH Nordbank would not permit us to continue this sponsorship.”
“We have had an exceptionally good, partnership-like relationship with HSH Nordbank since 2007. Numerous joint events in the HSH Nordbank Arena and in the city invigorated this partnership,” said Bernd Hoffmann, chairman of the Hamburg Soccer Club. He added that although HSH Nordbank’s intention to relinquish its naming rights to the stadium next summer is disappointing, its motivation is understandable.
The Bank began giving its name to the arena in 2007 to provide sponsorship in its region as well as to boost publicity for its planned IPO. “The financial crisis has now made the situation a crucially different one for us,” said Nonnenmacher. “The Bank has to be especially cost-conscious and reposition itself.” HSV President Hoffmann and HSH Nordbank CEO Nonnenmacher affirmed that both northern German institutions will carry on in the proven manner during the upcoming year of their agreement.
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