Vienna Austria, plagued by serious financial worries, wants to complete the sale of its home arena by the end of June at the latest. President Kurt Gollowitzer announced this at the regular general meeting of the Admiral Bundesliga club on Tuesday evening. They are working hard to implement the sale.
27.02.2024 23.11
Online since today, 11:11 p.m
With a view to the license for the coming season, Gollowitzer said that the goal was to maintain the gaming license in the first instance. The depreciation and interest expenses for the Generali Arena would place a heavy burden on the club’s balance sheet every year, said Gollowitzer. The sale is intended to bring the club back to financial health. As is well known, Austria has liabilities of more than 60 million euros.
“There are several interested parties with whom we are already well into negotiations. If we succeed in selling the stadium, then we will have reduced the liabilities to a large extent and will then have the opportunity to gradually invest in the sporting area,” Gollowitzer was quoted as saying in an Austria statement.
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Austria wants to be a “serious partner”.
Austria is planning to draw up a management agreement so that only the club will continue to hold events and manage stadium operations. “We will also agree on a right of repurchase at a certain residual value,” said Gollowitzer. According to media reports, the stadium sale will also be accompanied by a haircut. The club’s largest lender is Bank Austria.
Austria will submit the license documents on time on Monday. “Our goal has always been to get the next license in the first instance – that continues to be the goal of all of us. I am convinced that we will succeed this time,” said the club boss. They are prepared for the licensing process even without selling the stadium and want to “be a serious and reliable partner of the Bundesliga” in the future. According to reports, financial holes have been filled with money from investors in recent weeks.
