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

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

It was actually clear for a long time, but now it's official: Eintracht Frankfurt is the main tenant of the former Commerzbank Arena for the next 15 years, which has been called "Deutsche Bank Park" since 1 July and which will be expanded to a total capacity of around 60,000 seats by the start of the 2023/24 season. The City of Frankfurt and Eintracht Frankfurt Fußball signed a commercial lease agreement on Tuesday, June 30 for the use of the stadium and its grounds. This is in line with the standard which both sides had already agreed on at the end of last year when signing the joint declaration of intent. Both the Supervisory Board of Sport Stadion Frankfurt am Main Gesellschaft für Projektentwicklungen (in short: SSF) - a 100% subsidiary of the City of Frankfurt am Main - and the Supervisory Board of Eintracht Frankfurt Fußball unanimously approved the agreement. 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 mutually acceptable solution that takes into account the complex effects of such an exceptional crisis now and for the future," says 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 way in which we have dealt with 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," says City Councillor Markus Frank, who as Chairman of the Supervisory Board was instrumental in leading the negotiations. He also thanks City Councilor Claus Möbius and City Councillor Jan Klingelhöfer, whose reliable involvement in the municipal negotiating commission made it possible to achieve this result.

Mayor and City Treasurer Uwe Becker adds: "For many Frankfurters, the City of Frankfurt stadium is like a second living room and a place of great emotion. With the signing of the contract, the starting signal for a successful cooperation and future is given. Football fans, but also concert goers, will hopefully soon be able to cheer and celebrate together here again. </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 use the stadium together with the municipal property company from 1 July onwards.</p>

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