Adidas buys slice of Bayern

Sportswear equipment maker Adidas has acquired a 10% stake in Bayern Munich football club.

The deal values Germany's Bayern at 750m euros ($692.5m; £473.5m), making it the most valuable football club in the world and outstripping its arch rival Manchester United.

But concern that Adidas was paying too much for the stake in the club, caused the clothes maker's stock to fall more than 8% to 55.65 euros on Tuesday.

Adidas says the purchase will allow it to use Bayern's burgeoning fan club to market its brand, while gaining first hand experience of sports marketing and television rights.

No shares for Bayern fans

England's Manchester United is Europe's most valuable listed soccer club with a market value of 572m euros, and is one of the few football clubs whose shares have enjoyed some success.

Adidas currently generates about 15% - 700m euros a year - of its Adidas brand sales from the sale of football gear.

Adidas will remain the official sponsor and supplier of Bayern Munich until 2010, under an existing contract.

Bayern Munich is privately held and says it has no immediate plans to go public at the moment.