City Of Aachen Plans To Buy Alemannia's Tivoli Stadium For The Symbolic Price Of €1

The Tivoli Stadium in Aachen, Germany, which opened in '09, "was one of the main reasons for the bankruptcy of current fourth-tier club Alemannia Aachen, but now the city plans to buy the stadium," according to SPIEGEL ONLINE. The city plans to buy the Tivoli Stadium for the symbolic price of €1 ($1.35). The city said that "after talks between politicians and administrators, the topic will be on the agenda during the next city council meeting on Nov. 20." The stadium has annual costs of €2.5M-€3.5M ($3.4M-$4.7M) due to operation, interest and repayment. It "is owned by the club through a consortium in which the city holds a 8.5% stake." The city "could once again generate revenue if it purchases the stadium, and the club would have the security of being allowed to play in the Tivoli" (SPIEGEL ONLINE, 11/5).