Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Dortmund CEO: Bayern Loan Did Not Save Us
ESPN FC, May 3rd, 2013 1:23PM

MOST READ
TAGS:  germany, soccer business


Ahead of its top-of-the-standings Bundesliga clash against Bayern Munich, which is now merely a dry-run for the UEFA Champions League Final on May 25th, Borussia Dortmund CEO Aki Watzke has refuted the Bundesliga champion’s claim that it saved Dortmund from going bust in 2004. In an interview prior to last Tuesday’s UEFA Champions League Semifinal first-leg against Real Madrid at Signal Iduna Park, Watzke pointed out that the $2.6 million loan that Bayern gave Dortmund to help stave off administration came before his tenure.

"There has been a €2 million credit from FC Bayern, but not for me," Watzke said. "I set great values upon that. I would have rather gone begging than to borrow money from Bayern. In 2004 Bayern paid that money to my predecessors. And, regardless of that €2 million, BVB was nearly bust in 2005."

Back then, Watzke was the club’s treasurer; he became CEO in 2005. "One of my first official acts was to ask the creditors for permission to fully pay back the money, something other creditors only could have wished for," he said, adding: "Bayern Munich has not played any role in helping Borussia Dortmund avoid administration, got a high rate of interest and all of their money back. If anyone maintains the standpoint that Bayern Munich helped the economical 2.0 version of Borussia Dortmund in any way, they are knowingly telling a falsehood."

Nevertheless, dredging up the past seems to have struck a nerve with Watzke. "I have always spoken about Bayern with a lot of respect and admiration. That has cooled down a bit," the 53-year old said. "It is not the case that we are enemies. The relationship is absolutely fit for work. But why should we call it love, peace and harmony if it isn't so."

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Guardiola: I Would Leave Bayern if Asked    
Bayern Munich coach Pep Guardiola said he would be happy to leave the German giant after ...
Hazard a 'Major Doubt' for UCL Semi    
Chelsea on Friday confirmed that playmaker Eden Hazard is "major doubt" for Tuesday's UEFA Champions League ...
Neymar to Miss at Least Four Weeks     
Barcelona starlet Neymar looks set to miss the rest of the season after suffering an injury ...
Klinsmann on Altidore's Situation    
In the latest edition of Road to the Roster, U.S. men's national team coach Jurgen Klinsmann ...
Liverpool Players Lead PFA Awards Lists     
Liverpool trio Luis Suarez, Daniel Sturridge and Steven Gerrard were nominated for the Professional Footballers' Association's ...
Cruyff: Barca Needs to Restore Laporta, Guardiola     
Barcelona legend Johan Cruyff thinks the best way to turn the Catalan giant's fortunes around is ...
Ronaldo Could Miss First Game vs. Bayern     
Cristiano Ronaldo watched from the stands as Real Madrid beat Barcelona 2-1 in the Copa del ...
Report: Moyes Must Qualify for Europa League    
Manchester United coach David Moyes is understood to be under pressure from the Glazer family, the ...
Bayern Eases into German Cup Final     
Bayern Munich on Wednesday remained on course for a record 17th German Cup by crushing second ...
Pellegrini: 'Mentally Tired' City Not Out of Title Race    
Manuel Pellegrini admitted that Manchester City is mentally tired after his team could only manage a ...
>> Section 2 Around the Net Archives