Bayern pay off stadium to post £399m turnover
ByReuters
Updated 20/11/2014 at 15:33 GMT
Bayern Munich have paid off the cost of building the Allianz Arena and are set to top £399 (500 million euros or $628.10 million) in turnover for 2013/14, club CEO Karl-Heinz Rummenigge said on Thursday.
This aerial photo shows the illuminated Allianz Arena during the UEFA Champions League
Image credit: AFP
He told the Bundesliga champions' magazine the 25-year loan on the stadium, which cost more than 340 million euros to construct, had been paid off 16 years ahead of time.
"We have financed the entire stadium privately and for that we took exactly 346 million euros into our hands in 2005 with a financing plan to 2030, so 25 years," he said.
"Now we have paid off the stadium completely after 9-1/2 years."
This means Bayern will have about 25 million euros extra a year to buy players, according to the calculations of former club president Uli Hoeness a few years ago.
Rummenigge did not give an actual figure but confirmed "that the revenues from the Allianz Arena can soon also be invested in the quality of the team."
The arena, which can seat more than 70,000 fans, has quickly become a city landmark and popular tourist attraction with its recognisable bubble shape that lights up at night.
Rummenigge said Bayern would register a turnover of more than 500 million euros for the first time in 2013/14, with more details available at the Nov. 28 annual general meeting,
"It is no secret that for the season 2013/14 we broke past the magic number of half a billion euros for the first time," Rummenigge said.
Turnover for 2012/13, when Bayern won the treble of German league and cup plus the Champions League, stood at 393 million euros, at the time their best figures for 113 years.
When turnover for the Allianz Arena Stadium Ltd was taken into account the figure was 432.8 million for that period.
Bayern, who landed the domestic double last term, are top of the Bundesliga and have already qualified for the Champions League knockout stage in record time for a German club.
($1 = 0.7961 Euros)
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