Currency Converter

Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).


SBD Global/December 13, 2012/Finance

German City Grants Loan To Struggling 3rd League Club VfL Osnabrück

Financially troubled German 3rd League club VfL Osnabrück "eliminated another obstacle" on its way back to financial stability, according to the SID. The Osnabrück City Council granted the club a €3.6M ($4.7M) loan. With this loan, the city will become co-partner of a stadium operation company that has yet to be founded by the club. In return, the club will have to fulfill various requirements including the creation of a comprehensive rehabilitation plan, which will secure the financial sustainability of the club, by Feb. 28 (SID, 12/12).

FANS' CHOICE: The SID also reported insolvent German 3rd League club Alemannia Aachen decided to let its fans set the prices for their individual season tickets for the second half of the schedule. The club's liquidation Managing Dir Michael Mönig said, "We count on the solidarity of our fans." The club did not set a minimum amount. Current season tickets became void when the club opened its insolvency proceedings (SID, 12/12).
Return to top

Related Topics:

Finance, Europe

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug