Munich - Bayern Munich general manager Uli Hoeness sees the German Bundesliga holding firm against the global economic crisis. Hoeness was quoted in Friday's edition of the Bild newspaper as saying that German football is well off even though income may drop.
"I believe that German football has less to worry than other countries," said Hoeness.
"The big question, however, is if we are moving into a recession where the advertising spendings drops and companies are less inclined to pay money for sponsorship."
The German 1974 World Cup winner said that he was concerned for clubs in some other countries.
"Here and there clubs could go under, but not the big ones.
"Chelsea, for instance, has its debts with Abramovich, but they are not in danger because the club belongs to him. There is no bank involved that can close the club, as long as Abramovich does not demand his money back.
"One needs to see if the ice on which everything was built will last," he said.
Hoeness said that it was not certain that foreign investors in English football would continue investing such huge sums after losing a lot of money on the stock exchange.
"It would be good for competition if clubs in future actually had to earn the money they spent," said Hoeness.
He said that he was not concerned about his own club Bayern Munich, as they were financially "in a very strong position."
