Thought as much, stadium isn't paid off yet, the debt resides in another company - Allianz Arena München Stadion GmbH
Quote:
The net profit after taxes is not a typo. Karl Hopfner remarked that it was an effect he had “not experienced before”. The complications in the figures can be assumed to result from the subsidiary Allianz Arena München Stadion GmbH which continues to operate at a loss. The after tax profits represent a nearly 20% increase over the previous season.
Hopfner detailed the Audi stock purchase, which will take place in 3 stages
between spring 2010 and March 31, 2011. Audi’s stake in the club will be equal to Adidas’, 9.09 percent. This amounts to 2 million shares at total price of €90 million. Hopfner added that €163 million of the €346 milllion sum spent to build the Allianz Arena has been repaid. Hoeness had previously stated that the lion’s share of the Audi cash influx will be used to defray costs associated with the debt incurred on the stadium construction, which published reports estimate at €30 million per year. The pay off of stadium debt is seen as the key to long term growth for the club, as the stadium is the only part of the club that runs at an annual loss
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