Volkswagen owned soccer team, Vfl Wolfsburg, deals with cost cuts next season after maintaining its place in Germany’s Bundesliga with success in a playoff on Monday night.
VW subsidies its regional club Wolfsburg to the tune of about 90 million euros ($100 million) every season even as Europe’s most significant automaker faces billions of fines for its diesel emissions scandal which broke in September 2015.
2 sources at the automaker stated that the automaker was planning to cut the budget for Wolfsburg in the next season which is due to begin in the middle of August. They provided no details.
“Management and the supervisory board’s executive committee will take a seat and even more evaluate the season,” Volkswagen executive board member Francisco Javier Garcia Sanz stated in an emailed statement.
“Then we will collectively take the decisions,” included Garcia Sanz, who is likewise head of the club’s supervisory board.
Wolfsburg got rid of local rivals Eintracht Braunschweig 2-0 on aggregate in the playoff, a 1-0 win on Monday night helping to guarantee their survival while Eintracht remain in the 2nd tier.
Wolfsburg finished third from bottom in the Bundesliga, an indication of how the team has declined since the victory in German Cup in 2015 and going as far as the Champions League quarter-finals in the following season.
