With Borussia Dortmund and Bayern Munich battling for this season’s Bundesliga crown, Bayern President Uli Hoeness has revealed it loaned Dortmund more than $2 million in 2003 tohelp save its rivals from bankruptcy.
Dortmund’s board had put the club into dire financial straits and the loan was accepted by then president Gerd Niebaum and generalmanager Michael Meier. Dortmund repaid the loan within the year. In March 2005, the Dortmund was again in financial trouble and on the verge of bankruptcy as it only just managed toavoid insolvency, but corrected its cash situation enough to become German champion last season.
“When they couldn’t pay up anymore, sometimes even for salaries, we gave them an unsecuredloan for a few months,” revealed Hoeness. “I’m a big fan of tradition in sport and I don’t think that was a bad thing to do.”
Bayern coach Jupp Heynckes has said he doesnot believe Hoeness’ comments are planned to unsettle their Dortmund rivals, which are top of the league on 43 points with Bayern in second place on 41 points and level with Schalke 04.