Menu
Download the app

SBJ subscribers – Enhance your experience with the revamped iOS app

Finance

Fortuna Dusseldorf Repays 14-Year-Old Loan Of Almost $10M From Businessman Kölmel

Bundesliga club Fortuna Dusseldorf "has repaid a loan" of €7.5M ($9.8M) that it received in '99 from businessman Michael Kölmel, according to DER WESTEN. The club reportedly "used the profits from the current season to repay the loan." The club has started repaying the loan, which increased due to interest to an amount of more than €11M ($14.3M), in Aug. '08. Fortuna negotiation leader Dr. Reinhold Ernst "was able to negotiate down the loan" to €7.5M. As part of the deal, Fortuna used 30% of its TV money to repay the loan. Fifteen percent of the club's TV money was used to repay the loan and another 15% was used as commission for Kölmel. The commission for Kölmel, which was described by Exec Chair Dirk Kall as "indefinite" at the club's annual meeting in April '10, "reportedly has an option to make it final." To get out of the commission payments, the club "would have to pay more than" €10M ($13M) to Kölmel (DER WESTEN, 4/25).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2013/04/29/Finance/Fortuna-Dusseldorf.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2013/04/29/Finance/Fortuna-Dusseldorf.aspx

CLOSE