Kaiserslautern win lottery help
Wednesday, October 16, 2002
Article summary
Germany's 1. FC Kaiserslautern have eased their debt by selling the transfer rights to striker Miroslav Klose.
Article body
German side 1. FC Kaiserslautern have arranged a €5m loan to help alleviate their financial problems.
Lottery steps in
Lotto Rheinland-Pfalz GmbH - the regional lottery council for the Rheinland - have provided the money in exchange for the transfer rights of the highly rated German international striker Miroslav Klose.
Short-term solution
The grant saves the club, who have debts totalling €17.8m, for the short term and their chairman, Rene C. Jäggi, is delighted with the deal. "Lotto Rheinland-Pfalz has helped us in the most difficult time of the club's history and we're more than grateful for that," he said.
Price tag
Klose has a clause in his contract allowing him to leave the club in the summer of 2004 for €5m - which is when the Lotto Rheinland-Pfalz GmbH will receive their money back. Kaiserslautern have six points from eight 1. Bundesliga games this season and are currently embedded in the relegation zone.
