VW crisis not affecting Wolfsburg spending, says Allofs

VfL Wolfsburg says savings by parent company Volkswagen will not stop the club investing in new players.

But the Bundesliga club is not planning any major signings during the winter transfer period, sports director Klaus Allofs said in interviews published Thursday.

"We have the quality to belong to the top four teams in Germany," he told Wolfsburg's Allgemeine Zeitung daily.

"We have to tease more out of that. There is room for improvement."

Volkswagen is cutting costs as part of the financial fallout of a scandal over the falsification of tests on exhaust emissions.

But Allofs said the company would continue to invest in development to secure its future, and Wolfsburg could benefit from this.

"We want to continue to make expedient decisions and make forward-looking investments," he told Kicker magazine.

Wolfsburg are currently a disappointing seventh in the table, but Allofs said it was "absolutely wrong" to link this to the VW crisis. The club has "the financial possibilities to do something," he said.

Wolfsburg were active in the last three winter transfer periods, buying Ivan Perisic from Borussia Dortmund for 8 million euros (about 8.7 million dollars) in 2013, Kevin De Bruyne from Chelsea for 22 million euros in 2014 and Andre Schuerrle, also from Chelsea, for 32 million euros in 2015.

Although VW are seeking to make savings, it has no plans to reduce its annual investment of around 80 million euros in the club, a 100 per cent subsidiary of the company.

Last update: Sat, 03/09/2016 - 01:26
Author: 

More from Sport

Ramos earns Real Madrid a dramatic draw in El Clasico

Sergio Ramos earned Real Madrid a dramatic late draw in El Clasico by heading in a Luka Modric free-kick to hold...

Leaders Chelsea make statement with comeback win at Man City

Chelsea sent a strong statement to the rest of the Premier League on Saturday with a 3-1 comeback win at Manchester...

Convincing win takes Hoffenheim fourth in Bundesliga; Hertha third

Unbeaten Hoffenheim moved up to fourth in the Bundesliga with a 4-0 thrashing of Cologne Saturday while Hertha...

Ronaldo, Griezmann and Messi leads FIFA awards shortlist

Cristiano Ronaldo and Lionel Messi have been joined by Antoine Griezmann in final shortlist for the FIFA best men's...

World champion Rosberg retires from F1 racing

Nico Rosberg says he is retiring from Formula One racing, five days after winning his first world title in the sport...