Relegation From Bundesliga Could Delay Construction Of Hamburg's Youth Academy

The start of construction of the HSV-Campus youth academy "will be delayed in case Bundesliga club Hamburg SV gets relegated," according to the HAMBURGER ABENDBLATT. The club "has mailed this announcement to its shareholders," who allocated €17.5M for the project in the fall of '12. The letter read, "All possible and necessary steps will be prepared, so they are ready for decision-making. Based on the club's athletic development, those decisions will be made at the appropriate time and the project's time table could change." Therefore "it is unclear if in case the club is relegated, construction work on the youth academy will still start as planned in '14" (HAMBURGER ABENDBLATT, 3/11).