-+ 0.00%
-+ 0.00%
-+ 0.00%
According to a report in Germany's “Photo” on September 4, the Volkswagen Group may withdraw its capital from its current soccer business in order to save itself. Earlier, on September 3, the Volkswagen Group Supervisory Board approved the largest restructuring plan in history, the “2030 Future Plan.” It states in section 10.9 of the resolution: “In principle, equity investment in soccer clubs is not part of the 2030 target blueprint.” According to this, affected German soccer clubs include Bundesliga giants Bayern Munich — with Audi holding 8.33% of the shares; Stuttgart — with Porsche holding 10.4% of the shares; the newly relegated Bundesliga team Wolfsburg — 100% controlled by Volkswagen AG; and Deutsche 2 team Ingolstadt — where Audi holds 19.9% of the shares. According to reports, the sponsorship contract signed between Bayern Munich and Audi will expire in 2029.
Share
Listen to the news
According to a report in Germany's “Photo” on September 4, the Volkswagen Group may withdraw its capital from its current soccer business in order to save itself. Earlier, on September 3, the Volkswagen Group Supervisory Board approved the largest restructuring plan in history, the “2030 Future Plan.” It states in section 10.9 of the resolution: “In principle, equity investment in soccer clubs is not part of the 2030 target blueprint.” According to this, affected German soccer clubs include Bundesliga giants Bayern Munich — with Audi holding 8.33% of the shares; Stuttgart — with Porsche holding 10.4% of the shares; the newly relegated Bundesliga team Wolfsburg — 100% controlled by Volkswagen AG; and Deutsche 2 team Ingolstadt — where Audi holds 19.9% of the shares. According to reports, the sponsorship contract signed between Bayern Munich and Audi will expire in 2029.
Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.
What's Trending