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

More from Sport

IOC confirm support for whistleblower Yuliya Stepanova

Russian doping whistleblower Yuliya Stepanova to receive a grant to support her training, an International Olympic...

Hamilton wins US Grand Prix to boost championship chances

Reigning Formula One world champion Lewis Hamilton produced a flawless performance to win the United States Grand ...

Manchester City back on top despite 1-1 draw with Southampton

Manchester City went back to the top of the Premier League on Sunday despite a 1-1 draw with Southampton that left...

AC Milan edge Juve 1-0 in dull game

AC Milan edged a dominating but ineffective Juventus to a 1-0 victory Saturday, going second in the Serie A thanks...

Bayern Munich down Gladbach to lead Bundesliga from Hertha Berlin

Bayern Munich cruised to a comfortable 2-0 win over Borussia Moenchengladbach late Saturday to lead the Bundesliga...