Sponsorship of Euro 2024 in foreign hands

China has the advantage in sponsoring the Euro 2024 that has just begun. But there is also participation from France, Germany and the United States

Euro 2024, which began on June 14 and mobilizes thousands of fans around the world, now has official foreign sponsorship. This is the Chinese automobile company BYD (Build Your Dreams), replacing the German Volkswagen, which was at the helm from 2018 to 2023.

Everything points to a change of course and strategy marked by mobility and sustainability, taking into account that the Chinese company BYD, in full expansion, leads the electric vehicle market.

The company was founded in 1995 (Shenzhen, China) and quickly rose in the market, to the point of recently surpassing the American Tesla, run by Elon Musk.

It entered the European market in 2022 and now has 230 sales establishments in 19 countries, in addition to expansion plans.

Apparently, the philosophy of the new sponsor fit into the new orientation of the organizers of Euro 2024, who want a more sustainable tournament. In this sense, the official fleet of the tournament will be made up of electric vehicles by BYD, with the goal of reducing the carbon footprint and contributing to sustainability. BYD, for its part, has announced events that promote electric mobility in the fan zones of the host cities.

Prominence of foreign sponsorship

According to UEFA, there are five commercial partners in the sponsorship of the sporting event most anticipated by fans. The organization indicated that the Adidas brand will deliver the balls and equipment for volunteers and employees. Likewise, the French digital services company Atos will be in charge of the tournament’s computer technology. Coca-Cola accompanies them in the supply of all supplies for the hydration of the fans, the volunteers and the dehydration officials. The German railway company Deutsche Bahn is in charge of Euro-Tickets at special prices.

Boost to the German economy could be 1,000 million euros

The host country of Euro 2024 could add around 1 billion euros to its economy from the profits derived from foreign tourists who travel to enjoy soccer matches.

The forecast of the economic research institute, ifo, indicates that the figure would correspond to 0.1 % of economic production in the second quarter of the year. The sectors with the greatest benefit from the sporting event are hospitality and food retail in Germany.


With information from international media and social networks

(Reference image: Unsplash+, in collaboration with Andrej Lišakov)

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