Volkswagen Plans To Trim Budget For Bundesliga Side VfL Wolfsburg Next Season

Bundesliga side VfL Wolfsburg, owned by Volkswagen, "faces cost cuts next season after retaining its place" in the German top flight with victory in a playoff on Monday, according to Andreas Cremer of REUTERS. VW subsidizes the club "to the tune of about" €90M ($100.7M) per season, "even as Europe's biggest carmaker grapples with billions of charges for its diesel emissions scandal" which broke in Sept. '15. Two sources at VW said on Tuesday that the company was "planning to trim the budget for Wolfsburg in the next season which is due to start in the middle of August." They gave no details. VW exec board member Javier Garcia Sanz, who is also head of the club's supervisory board, said, "Management and the supervisory board's executive committee will sit down and further analyze the season. Then we will jointly take the decisions" (REUTERS, 5/30).