Nissan Mulling Sale of Yokohama F. Marinos Soccer Club as Part of Restructuring Efforts

Yomiuri Shimbun file photo
The logo of Nissan Motor Co.

Nissan Motor Co. is considering selling some or all of its stake in the Yokohama F. Marinos, a professional soccer club in Japan’s J. League, as part of its restructuring efforts, it has been learned.

Nissan, which currently holds a nearly 75% stake in the club, is sounding out potential buyers, including a major IT firm, according to a source familiar with the matter.

The company posted a consolidated net loss of ¥670.8 billion for its fiscal year ended in March amid sluggish global sales. To restructure, the automaker has announced plant closures and cut costs across a wide range of businesses, including its sports related operations.

The company has asked the Yokohama city government for a one-year naming rights deal for the International Stadium Yokohama (Nissan Stadium) that would only cost it ¥50 million, less than half what it currently pays.

Founded as Nissan’s in-house soccer club in 1972, the Yokohama F. Marinos joined the J. League in 1993, the year the league was launched. The club has won Japan’s top-tier J1 League five times.

Nissan declined to comment on the sale of its Yokohama F. Marinos’ stake.

Yokohama Mayor Takeharu Yamanaka told reporters on Monday: “The club has been beloved by residents for many years. We want the club to continue on.”