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
Nasri to Miss a Month Following Surgery     
Manchester City midfielder Samir Nasri will miss a month after having groin surgery over the weekend. ...
Herrera Out as Man United Injury Crisis Worsens    
Manchester United midfielder Ander Herrera will be out for "weeks" with a fractured rib in yet ...
Giroud Signs Gunners Extension    
Goal.com reports that injured Arsenal striker Olivier Giroud has signed a two-year contract extension with the ...
Defender Helped Finance Barca Move    
Barcelona defender Jeremy Mathieu on Monday confirmed that he paid three million euros out of his ...
Man United Mulls Midweek Friendlies Abroad    
The BBC reports that Manchester United is thinking about playing potentially lucrative midweek friendlies abroad since ...
Cole 'Never Expected' to Play Against Lampard in UCL    
AS Roma defender Ashley Cole said he was surprised to come up against former Chelsea teammate ...
Luis Suarez Ban Upheld in FIFA 15     
Barcelona striker Luis Suarez is not currently playable in the "career mode" of FIFA 15, the ...
Simeone: Juve a 'Final'    
It may only be Matchday 2 of the UEFA Champions League, but Diego Simeone is already ...
Report: Pardew's Job Safe-for Now     
Newcastle United is currently 19th in the Premier League table and winless in six games so ...
Life on the road with Badgers    
What's life like on the road in the fall for a Division I soccer player? For ...
>> Section 2 Around the Net Archives