Volkswagen-backed Bundesliga club Wolfsburg "postponed the construction of a youth training center Tuesday because of the German car manufacturer's emissions-rigging scandal," according to the AP. Referring to the planned €40M ($45.5M) project, Wolfsburg CEO Klaus Allofs said, "I think it's understandable that we at least suspend it for now. We were not at the stage that you could say the project would be implemented. But of course this is not the time for investment."
Wolfsburg "is heavily reliant on main sponsor Volkswagen for backing." The company put aside €6.5B ($7.3B) "for recall costs and fines though the real cost is likely to be significantly higher in terms of fines and lost sales." The club reportedly receives €80M ($91M) annually from the car company.
However, Wolfsburg "is unlikely to see any immediate impact from the scandal." Volkeswagen spokesperson Hans-Gerd Bode:
"We're heading towards difficult times financially and are asking ourselves what benefits are coming from which Volkswagen engagements. But Wolfsburg is not an issue at all" (AP, 10/13).
