BERLIN, April 27 (Reuters) - Bayern Munich have bought out TSV 1860 Munich's share in the new Allianz Arena for 11 million euros ($13.67 million) to save the 'Lions' from the threat of bankruptcy.
Bayern and 1860 co-owned the new stadium, which was built
for around 300 million euros and will host the opening match of
the 2006 World Cup.
The smaller club have seen their hopes of promotion back to
the Bundesliga slide as the season has gone on and they may yet
even be demoted to the third division.
'With this we've avoided insolvency,' said 1860 managing
director Stefan Ziffzer at a news conference.
Bayern chairman Karl-Heinz Rummenigge said no charity had
been involved in the decision.
'This was not done because of brotherhood or sympathy,' he
said. 'It's in our own self-interest.'
Under the deal, 1860 retain the right to buy back their
share for 11 million euros plus interest any time before June
2010.
Germany take on Costa Rica at the Allianz Arena to get the
World Cup underway on June 9.
