Germany Rumors

Dennis Schroder buys German team

Just like former NBA players have retired from the league and come back to buy into an NBA team, Dennis Schroder has done the same with his hometown professional team in Germany. Löwen Braunschweig was the first professional team Schroder ever played for back in 2010. Now, just ten years later, he will become the club’s main partner on July 1, in just over a month. The Oklahoma City Thunder guard has made a business move while the NBA is on hiatus.
Late Wednesday evening, Schroder posted the news on his Instagram saying, “Practiced 100%. Played 100%. Now Proud 100% Owner of Braunschweiger.” Schroder had some thoughts on his investment, which from German loosely translates to, “I am very happy to be the sole partner of the lions now. Braunschweig is my hometown, I want to give something back to the region. I am convinced that we can develop the location further and make it a top club in the league.”
In Germany where the Bundesliga is poised to become one of the first major sports leagues to return to play, the league has promised to cover the cost of the additional testing they’ll need – an estimated 20,000 tests spread among 36 teams – as well as provide any surplus tests to front line health-care workers. “Along with the NBA, we are all following that and I think if they are a couple of weeks in front of us, it will be hopefully useful and directional for us to look at,” Raptors general manager Bobby Webster told reporters on a conference call when asked if the NBA is studying the German model. “Everyone is looking at that.
Adidas AG is seeking more than 1 billion euros ($1.1 billion) in German government aid as it grapples with the fallout of the coronavirus pandemic, people familiar with the matter said. The sporting goods maker is in talks with German state-owned bank KfW about a financing package, according to the people, who asked not to be identified because the information is private. Adidas has been discussing a range of around 1 billion euros to 2 billion euros in loans, though the final amount and timing haven’t been decided, the people said.