Google+ Followers

Thursday, 20 November 2014

Bayern Munich to have £20m more a year for transfers after repaying loan


Bayern Munich have managed to repay the €346m loan used to build the Allianz Arena in just nine and a half years. Photograph: Christof Stache/AFP/Getty Images
Bayern Munich are likely to have about €25m (£20m) extra a year to buy players after paying off the cost of building the Allianz Arena. The club is set to top €500m (£400m) in turnover for 2013-14.
Karl-Heinz Rummenigge, the Bayern CEO, told the Bundesliga champions’ club magazine the 25-year loan on the stadium, which cost more than €340m (£272m) to construct, had been paid off 16 years ahead of time.
“We have financed the entire stadium privately,” he said. “For that we took exactly €346m into our hands in 2005 with a financing plan to 2030 – so 25 years. Now we have paid off the stadium completely after nine and a half years.“
This means Bayern will have more money to buy players, according to the calculations of former club president Uli Hoeness a few years ago. Rummenigge did not give an actual figure but confirmed: “The revenues from the Allianz Arena can soon also be invested in the quality of the team.”