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STUTTGART, Germany (AP) — Bundesliga club Stuttgart has mainly agreed on a sponsorship deal with local car manufacturer Porsche and consultancy firm MHP that it says could yield more than 100 million euros ($110 million).
Mercedes-Benz will remain Stuttgart’s main sponsor, though it is giving up naming rights to the club stadium, Stuttgart said on Tuesday.
MHP, a management and IT consultancy company belonging to the Porsche Group, will take over the stadium name for an initial 10-year period, the club said.
Last year’s Wimbledon runner-up Nick Kyrgios withdrew from the Halle Open in his latest setback as he tries to recover from a long-running knee injury.
There won’t be an all-American semifinal at the Stuttgart Open after Taylor Fritz was upset 6-4, 7-5 by qualifier Marton Fucsovics in the quarterfinals.
German authorities say a man opened fire at a Mercedes-Benz factory in southwestern Germany and two people were killed.
“The planned cooperation with Porsche, MHP and Mercedes-Benz promises to strengthen the club and the company behind it in the long run,” Stuttgart president Claus Vogt said. “This is where the Champions League of investors are coming together under one roof.”
Stuttgart narrowly avoided relegation last season, thanks only to a playoff win over second-division club Hamburger SV.
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