Wolfsburg keep calm as VW review finances

 07 Oct 2015 - 18:29

Wolfsburg keep calm as VW review finances

Berlin: VfL Wolfsburg boss Klaus Allofs says there is no cause for concern, even though the new chief of main sponsors Volkswagen has stated the car manufacturer is reviewing its finances. 
Embattled Volkswagen are caught up in a massive pollution-cheating scandal, which threatens to cost the company billions in vehicle overhauls and fines around the globe, with some 11 million diesel cars affected.
VW's new CEO Matthias Mueller has said his company will review their finances thoroughly to see where they can save cash -- which includes delving into their huge sponsorship of Wolfsburg.
The carmakers invest an estimated 100 million euros into the football club per season, but Allofs refuses to worry about the durability of the sponsorship of his Champions League team.
"We have confidence in the strength of the leadership. Besides, many things speak for the engagement of Volkswagen at VfL," Allofs told SID, an AFP subsidiary. 
On Tuesday, Volkswagen boss Mueller told the Frankfurter Allgemeine Zeitung that they will "turn every stone and inspect it" to see where they can save cash.
"Everything which isn't absolutely necessary will be cancelled or written off," he added.
Volkswagen have sponsored Wolfsburg since 1945 and Allofs insists it must be business as usual on the pitch for the Champions League team.
"At the moment, there are no consequences for VfL. We want to continue on our successful path, we will be sensible financially as always, and try to make profits through transfers and success in Europe."

 

AFP