Kaiserslautern sell out to stay alive
Thursday, June 12, 2003
Article summary
Germany's 1. FC Kaiserslautern have sold their stadium and training facilities to ease their debts.
Article body
Assets sold
The four-times Bundesliga champions had to sell their main assets for an undisclosed fee to fulfil the demands set by the German Football League (DFL) in order to get a licence for the 2003/2004 season.
Relegation threat
Had Kaiserslautern failed to comply they would have faced losing their professional status and being relegated to the Regionalliga, Germany's third division. Kaiserslautern - who last season had debts of around €30m - will now pay rent for the use of the Fritz-Walter-Stadion and the training ground to a holding company owned by the city authorities in Kaiserslautern.
Twenty-five year agreeement
The annual rent is estimated at around €3m, although this could increase depending on the success of the club. After a 25-year period Kaiserslautern have been promised the chance to buy back both the stadium and the training ground.
Points deduction
Kaiserlautern will play in next season's UEFA Cup having finished German Cup runners-up to double winners FC Bayern München. But their financial problems mean they will start next season having already had three points deducted from their final total. Last term, the DFL also fined them €125,000 after uncovering evidence of breaches of licensing rules dating back to the 1997/98 season.
