Baseball renews sponsorship deal with Budweiser

Budweiser will remain the official beer sponsor of Major League Baseball, which renewed a multiyear agreement with Anheuser-Busch InBev NV.

The two sides agreed to drop their pending litigation, baseball and the brewer said in a statement. The world's biggest brewer, Anheuser-Busch had said in a lawsuit last month that Major League Baseball Properties Inc. broke an exclusive sponsorship agreement to try to get more money.

"We are all pleased that we were able to work through our differences to reach an agreement which will continue our relationship," Major League Baseball Vice President of Business Tim Brosnan said in the statement.

Anheuser-Busch Inc., which is based in St. Louis and is the top U.S. brewer, has been a Major League Baseball sponsor for more than 30 years, said Mark Wright, a vice president with the brewer. The company will continue to promote its Budweiser brand through Major League Baseball-themed promotions on products and in print, television and in-store advertisements.

"Major League Baseball has always been a top priority for our Budweiser brand and is important to our plans," Wright said in a joint statement with baseball. "We value our long-term relationship with the league and are happy to have resolved this issue."

Anheuser-Busch is one of 18 sponsors of Major League Baseball, according to MLB.com. Others include Nike Inc., MasterCard Inc. and PepsiCo Inc.

Budweiser is a sponsor for 26 of baseball's 30 teams.