Bayern Munich and Red Bull agreed to a $100 mln deal to build a multi-purpose arena

Uli Hoeness, president of Bayern Munich, and Dietrich Mateschitz, founder of Red Bull, have agreed to a partnership deal to build a new multi-purpose arena that will host the home games of Bayern Munich's basketball team and EHC Red Bull Munich, a hockey team run by Red Bull. The project is to renovate the old Olympic Velodrome and Red Bull has decided to invest $100 mln in this new arena, an amount of money that will be recompensed through rental income generated by the stadium.

The new arena will be ready for 2019 and will be able to host 10.000 people. Red Bull is becoming a real force in Germany's sports world, their football team, RB Leipzig, is doing a fantastic job in Bundlesiga and they're currently at the second place in the standings, just behind Bayern Munich.