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Kirch has bank guarantee
Germany - 31 January, 2008
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Leo Kirch has picked up financial backing for his broadcast deal with the German Football League (DFL).
Bank guarantees have been secured. Though Kirch spokesmen declined to name the bank, industry insiders said it was Vienna-based Raiffeisenbank Zentralbank.
Kirch guaranteed the league a minimum of EUR 500 million for each season between 2009 and 2015. The bank security clears the way for the TV rights tender to commence early this year.
The deal with Kirch was contingent on the bank guarantee.
Bank guarantees have been secured. Though Kirch spokesmen declined to name the bank, industry insiders said it was Vienna-based Raiffeisenbank Zentralbank.
Kirch guaranteed the league a minimum of EUR 500 million for each season between 2009 and 2015. The bank security clears the way for the TV rights tender to commence early this year.
The deal with Kirch was contingent on the bank guarantee.
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