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

MOST COMMENTED

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
Bookmakers Slash LVG Exit Odds    
British bookmakers reacted to Manchester United's humiliating 4-0 defeat against Milton Keynes Dons in the Capital ...
Atletico Appeals Simeone's Ban    
Atletico Madrid President Enrique Cerezo on Tuesday said the club would appeal coach Diego Simeone's eight-game ...
Eto'o Signs Two-Year Deal with Everton     
Samuel Eto'o on Tuesday completed a free transfer to Everton, signing a two-year deal with the ...
Warnock Appointed Coach of Crystal Palace     
Crystal Palace on Tuesday signed former coach Neil Warnock on a two-year contract. Warnock, who most ...
Barca Target Douglas to Sign Five-Year Deal     
Barcelona on Tuesday announced that Brazilian right back Douglas will join the club before the end ...
Deila: Celtic 'Not Good Enough' for UCL     
Celtic coach Ronny Deila said his team was "not good enough" to play in this season's ...
Di Maria: I was Forced Out by Real Madrid    
In an open letter to Real Madrid fans, Angel Di Maria reveals that he did not ...
Yeagley: 'They all want to beat Indiana'    
A Big Ten title extended Indiana's streak of consecutive NCAA Tournament appearances to 27, but it ...
Belmont Abbey freshman McGuire remembered on campus    
Belmont Abbey freshman Michael McGuire collapsed following a pre-season fitness test Aug. 16 and died five ...
Report: Benatia Joins Bayern Munich from Roma     
AS Roma on Tuesday sold central defender Mehdi Benatia to Bayern Munich on a five-year contract. ...
>> Section 2 Around the Net Archives