31 Oct 2013

Dutch brewer renews Champions league sponsorship deal

5:33 am on 31 October 2013

Heineken, the world's third largest brewer, has extended for another three years its sponsorship of the Champions League, Europe's premier football tournament.

The Dutch beer maker has been a sponsor since 2005, and while both parties decoined to disclose financial details, a sports marketing research group IMR estimates the current partnership costs Heineken $85-million dollars a year.

Heineken spent about 3.75 billion dollars last year on marketing, 12 percent of its revenue.