MUNICH: Bayern Munich have paid off the cost of building the Allianz Arena 16 years ahead of schedule.
The German champions are set to top £399 in turnover for 2013-14, club ceo Karl-Heinz Rummenigge has revealed
He told the club magazine the 25-year loan on the stadium, which cost more than €340m to build, had been paid off 16 years ahead of time.
“We have financed the entire stadium privately and for that we took exactly €346m 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 millions more each year to spend on the team.
Rummenigge said Bayern would register a turnover of more than 500 million euros for the first time in 2013-14, with exact details available at the November 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, reached a record €393m at the time their best figures for 113 years.
When turnover for the Allianz Arena Stadium Ltd was taken into account the figure was €432.8m for that period.