Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySoccer World DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America ClassifiedsGame Report
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

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



Recent Section 2 Around the Net
Youth soccer fights back against 49ers    
Northern California youth soccer advocates, including Santa Clara Youth Soccer League President Tino Silva, have launched ...
Cal South TOPSoccer Program Turns 25    
"We're all soccer players, special needs or not," says Sandy Castillo, chair of the Cal South ...
How Neymar Played in Childhood     
Neyrmar: "I used to pick up the ball, set up the furniture and go around dribbling ...
Roma Partnering with U.S. Youth Clubs    
Italian Serie A club Roma, which has American ownership, aims to forge partnerships with seven U.S. ...
LVG: Falcao "Has to Prove Himself"    
Manchester United coach Louis van Gaal has responded to criticism over dropping Radamel Falcao by claiming ...
Report: Adidas to Assist Messi Move?    
According to Spanish sports daily AS, Lionel Messi's sponsor Adidas could be the key to the ...
Toure Admits Man City Future in Doubt     
Speaking ahead of the opening games of the African Nations' Cup in Equatorial Guinea this weekend, ...
Ronaldo Blasts 'Defensive' Atleti Tactics    
Cristiano Ronaldo blasted Atletico Madrid for its unattractive style after the Rojiblancos ousted Real Madrid from ...
Fabian Johnson's 'Spat' with 'Gladbach Coach Favre    
According to Bild, USA defender Fabian Johnson is in a "spat" with Borussia Monchengladbach coach Lucien ...
Serie A to Introduce Goal-Line Technology     
Serie A will introduce goal-line technology next season after the Italian soccer federation (FIGC) gave its ...
>> Section 2 Around the Net Archives