1860 Munich sellout Allianz Arena shares to Bayern

السبت، 29 أبريل 2006 - 22:21

كتب : Amro Hassan

The Allianz Arena

German giants Bayern Munich announced that the club became the sole owners of the Allianz Arena after buying city rivals 1860 Munich’s shares in the stadium.

Bayern paid 1860 Munich 11 million Euros ($14-million) for their shares in the stadium and allowed them to play their Bundesliga games on the Arena for free until 2008, the German champions announced on their official website on Saturday.

1860 Munich will get an annual 6.5% interest of Bayern's revenue from using the Arena.

They will also be allowed to use the Arena’s first class seats for three-million Euros if they get promoted to the Bundesliga, one-million Euros if they stay in the second division, and half a million if they are relegated to a lower division.

1860 Munich are currently suffering a severe financial crisis and are on the verge of bankruptcy.

The two Munich clubs have cashed in on the 300-million Euros ($380-million) stadium.

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