Bayern pay off Allianz Arena, 16 years early
20 November 2014, 22:55
Berlin - Bayern Munich will be able to boost their star-studded squad in future after paying off the 346 million euros (US$433.245m) cost of their Allianz Arena, 16 years ahead of schedule.
"It's completely paid off," Bayern chairman Karl-Heinz Rummenigge wrote in the match magazine before Saturday's Bundesliga clash at home to Hoffenheim.
"We have financed our stadium completely by private means.
"In the year 2005, we borrowed exactly 346 million euros in a 25-year plan, which was to last until 2030.
"Now we have paid the stadium off after only nine-and-a-half years. I'm very proud of that."
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Coach Pep Guardiola will now have more funds at his disposal, said Rummenigge, who mentioned a figure of 25 million euros, the exact sum needed to activate the release clause in Marco Reus' Borussia Dortmund contract.
"Revenue generated by the Allianz Arena will be invested in future in the quality of the team," added Rummenigge, who has already said Germany winger Reus is a Bayern target.
The rapid repayment of the Allianz Arena was made possible by the introduction of Allianz AG as the club's third main sponsor, after sports goods manufactures Adidas and car-company Audi, which injected 110 million euros into the club's coffers.
Bayern will unveil their finances at the club's Annual General Meeting on November 28 and Rummenigge stole some thunder from the Bavarians' chief finance officer Jan-Christian Dreesen.
"It's no secret that we broke the magic mark of half a billion euros during the 2013/14 season," wrote Rummenigge.
"Also our profit has increased again strongly."
Bayern are set to announce figures of 16.5 million euros profit from a turnover of 528 million euros, compared to last year's figures of 14 million profit from 432.8 million euros.