Würzburg Approves Creation Of Stadium Corporation, Will Invest $7.89M Over 20 Years

Second Bundesliga side Würzburger Kickers has taken the next step on its way to create a stadium corporation, according to Roman Gerth of SPONSORs. The city council approved a concept that calls for a €300,000 ($337,000) annnual investment by the city into the corporation. With a contract length of at least 20 years, the city's investment would total €7M ($7.86M). As part of the investment, the city would receive 25-49% of the shares in the operating company of the Flyeralarm Arena. The remaining shares will go to the club and private investors. The concept does not call for a new stadium, but rather for renovations and expansions over the next several years. The renovation costs will be around €15M ($16.9M), of which the club has already invested €5M ($5.6M). Würzburg Mayor Christian Schuchhardt on the city council's approval: "We are profiting from football. It's something positive for the city" (SPONSORs, 9/30).