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
Arrests Mar Roma's UCL Win     
Police arrested three fans prior to AS Roma's UEFA Champions League opener against Russian side CSKA ...
Roma Players Warn City, Bayern Following Rout     
AS Roma's players said they are full of confidence following their 5-1 hammering of CSKA Moscow ...
Di Maria: "I Needed to Change My Life"    
In an interview with Perform, Manchester United forward Angel Di Maria says that he left Real ...
Drogba: "I'm Like a Diesel, I Need Time"    
Didier Drogba admits that he needs time to regain his fitness and confidence after squandering chances ...
Ajax Earns Draw with PSG    
Danish international Lassa Schone scored in the 74th-minute from a free kick to spoil Zlatan Ibrahimovic's ...
Barca Uninspiring in Narrow UCL Opener     
It was an uninspiring debut for Barcelona coach Luis Enrique in the UEFA Champions League on ...
Mourinho: Costa's Hamstring Injury a Concern     
Chelsea coach Jose Mourinho reiterated his concerns over striker Diego Costa's hamstring following the Blues' 1-1 ...
Report: NYCFC Eyes Queens Stadium    
New York City FC is considering building its stadium near the Acqueduct Racetrack in Queens, Capital ...
Ronaldo on Track to Break European Scoring Records    
If he remains injury-free this season, Cristiano Ronaldo should become the all-time leading scorer in both ...
Jardim: Monaco "Superior" in UCL Opener    
Leanardo Jardim hailed AS Monaco's "superior" display in Tuesday's 1-0 win against Bundesliga giant Bayer Leverkusen ...
>> Section 2 Around the Net Archives