Dhe economic and financial expert Rudolf Hickel considers KfW loans for Bundesliga soccer clubs to be justified. The bridging loans with state funding should come, said the long-time director of the Institute for Work and Economy at the University of Bremen in a column of the “Weser-Kurier”.
SV Werder and the other clubs that applied for an aid loan from the State Credit Agency for Reconstruction (KfW) in the Corona crisis were in trouble due to loss of revenue, Hickel wrote. A medium-sized company such as the Bundesliga club Bremen could “threaten bankruptcy”. “The cost of closing professional football on the Weser would be huge compared to cheap loan assistance,” he said.
According to Hickel, KfW loans for professional clubs will “ultimately cost the state nothing”. The loan applied for, for example, from Werder Bremen, which according to the “Weser-Kurier” is said to be 15 million euros, will be repaid in subsequent years after years of repayment. “Since the SVW will survive the financial crisis, it will cost the state nothing. The state’s assumption of risk and the reasonable interest rate that Werder pays is good business for the banks, ”said Hickel.
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