Major League Baseball

MLB, beer company reach new agreement

Published Dec. 30, 2010 12:00 a.m. ET

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Anheuser-Busch Inc. said Thursday it reached a new sponsorship agreement with Major League Baseball and dropped the lawsuit it filed against the league in November.

The multi-year agreement designates Budweiser as the official beer sponsor of Major League Baseball.

The U.S. arm of Anheuser-Busch, the world's largest brewer, sued the league's licensing arm in a New York federal court in November, claiming that it reneged on a multi-year renewal of the sponsorship rights and demanded "exponentially higher" fees.

"Major League Baseball has always been a top priority for our Budweiser brand and is important to our plans," said Mark Wright, vice president of media, sports and entertainment marketing for Anheuser-Busch Inc., in a statement Thursday. "We value our long-term relationship with the league and are happy to have resolved this issue."

Tim Brosnan, executive vice president for business for the league, said, "We are all pleased that we were able to work through our differences."

The Budweiser brewer has sponsored Major League Baseball for more than 30 years and is the official beer sponsor for 26 of the league's 30 teams.

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