Second-Tier Club FC Kaiserslautern Issues Fan Bonds To Help Upgrade Youth Academy
German 2nd Bundesliga club FC Kaiserslautern "will issue fan bonds" for a total of €6M ($8.1M) "to help finance the planned upgrade of its youth academy," according to the DPA. The club will start issuing the bonds on Tuesday at 7pm German time. Customers will be able to purchase bonds online for €100 ($136), €500 ($679), €1,900 ($2,600) or €7,893 ($10,700). The fan bonds have an annual interest rate of 5% and a duration until Aug. 1, 2019. The upgrade and modernization of the club's youth academy "is expected to get under way in April" and will cost around €9.3M ($12.6M). The team will use €3.3M ($4.5M) of reserve assets for the project (DPA, 1/30).