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Eintracht Frankfurt and City of Frankfurt sign long-term lease for Deutsche Bank Park

02.07.2020 | 17:00 Clock | Business
Eintracht Frankfurt and City of Frankfurt sign long-term lease for Deutsche Bank Park

It was actually clear for a long time, but now it is also official: Eintracht Frankfurt is the main tenant for the next 15 years of the former Commerzbank Arena, which has been called "Deutsche Bank Park" since 01 July and which will be expanded to a total capacity of around 60,000 seats by the start of the 2023/24 season. On Tuesday, June 30, the City of Frankfurt and Eintracht Frankfurt Fußball signed a commercial lease agreement for the use of the stadium and the associated grounds. This standardises what both sides had already agreed to at the end of last year when signing the joint declaration of intent. The contract was unanimously approved by both the Supervisory Board of Sport Stadion Frankfurt am Main Gesellschaft für Projektentwicklungen (SSF) - a wholly owned subsidiary of the City of Frankfurt am Main - and the Supervisory Board of Eintracht Frankfurt Fußball. The conclusion of the contract was preceded by intensive rounds of negotiations between representatives of the city and Eintracht Frankfurt.

"The tough but always constructive negotiations with the city have of course been influenced by the pandemic developments of recent months. We have now found a viable solution for both sides that takes into account the complex effects of such an exceptional crisis now and for the future," said board member Axel Hellmann. "For Eintracht Frankfurt, the agreement with the city is an essential building block for further independent development and action."

"In really intensive talks, we have succeeded in creating a good foundation for the future cooperation between the municipal Sportpark Stadion GmbH and Eintracht Frankfurt. Especially the trusting relationship in the past months - which were of course also marked by the crisis - allows us to look positively into the future and gives us planning security for the next 15 years," said City Councillor Markus Frank, who as Chairman of the Supervisory Board played a key role in the negotiations. He also thanks Councillor Claus Möbius and City Councillor Jan Klingelhöfer, whose reliable participation in the municipal negotiating committee made it possible to achieve this result.

Mayor and City Treasurer Uwe Becker adds: "For many Frankfurt residents, the City of Frankfurt's stadium is like a second living room and a place of great emotion. The signing of the contract is the starting signal for a successful cooperation and future. Football fans, but also concert-goers, will hopefully be able to cheer and celebrate together here again very soon."

The contract will be implemented by the specially founded Eintracht Frankfurt Stadion, a subsidiary of Eintracht Frankfurt Fußball, whose managing directors Julien Zamberk and Patrik Meyer will manage the stadium from 1. July the stadium will be used jointly with the municipal ownership company.

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