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SBD Global/April 29, 2014/Franchises

Members Of Second Bundesliga Side Dynamo Dresden Vote To Repay Loan

The members of relegation-threatened 2nd Bundesliga club Dynamo Dresden "have voted to repay the loan from media entrepreneur Michael Kölmel," according to the SID. At the club's special general meeting on Saturday, 497 of the 518 voting-eligible members "called on the club's management to hold content-related talks with the 60-year-old." Kölmel became Dynamo's main creditor when he invested €5.25M in the club in '00. Kölmel "receives 10% of the club's TV revenue due to his contract with the team." In order to repay the loan, the indebted club reportedly "would have to pay" €7.4M ($10.3M) including interest rates (SID, 4/26).
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