Bayern Munich's arena 'completely paid off' 16 years ahead of schedule
Bundesliga club FC Bayern Munich has paid off "all debts, loans, and costs" related to the team's Allianz Arena almost 16 years ahead of schedule, executive board chairman Karl-Heinz Rummenigge revealed on Thursday.
According to Rummenigge, all of the expenses related to the construction of the arena outside Munich have been "paid off in full." The only remaining cost is a "very small sum due to technical procedures," the chairman said.
"We have financed our stadium completely by private means," Rummenigge said. "In 2005 we borrowed exactly €346 million in a 25-year plan, which was meant to last until 2030. Now we have paid the stadium off after only nine and a half years. I'm very proud of that."
Construction of the arena began in 2002. Bayern and second-division team TSV 1860 Munich took up residence there three years later. 1860 Munich sold its stake in the facility to Bayern just one year later, but kept the right to play there.
While the building has one of the continent's largest underground parking facilities, the 2,760 diamond-shaped cushions on the exterior of the building -- which can be lit red, blue or white depending on whether Bayern, 1860 Munich, or the German national team are playing -- are considered the venue's most distinctive feature.
Rummenigge said the funds made available by the early payment will be reinvested into coach Pep Guardiola's squad. In addition to six UEFA Ballon d'Or nominees, the team features Robert Lewandowski, Xabi Alonso and Franck Ribery.
"It's no secret that we made over half a billion euros in revenue in the 2013/14 season," said the chairman. "Revenue generated by the Allianz Arena will be invested in the quality of the team in the future."
The club, which currently leads the Bundesliga with an 8-3-0 record and a 27:3 goal differential, faces TSG 1899 Hoffenheim (4-5-2) at home on Nov. 22.