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Tuesday, May 17, 2022

Schalke financial deficit 17.8 million euros

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German club Schalke 04 revealed a deficit of €17.8m in 2021, while the club reduced its financial obligations by €33.5m.
On Tuesday, the rival team in the German second division said the deficit is in line with their expectations since the summer, and is seen as a significant improvement in the club’s condition, despite relegation from the Premier League, which caused a decrease. in the team’s broadcast TV revenue, in addition to Novel Corona virus restrictions.

With a strict policy of austerity and sale of players, the deficit was well below 52.6 million in 2020, and the budget went from 80 to 20 million euros.

Christina Roll Hammers, Supervisory Board Member and Finance Officer, said: “The reduction in total requirements from €33.5m to €183.5m is proof that the club is moving in the right direction.

He added that the termination of the partnership with main sponsor “Gazprom” after Russia invaded Ukraine, will have no impact on the club’s plans for the 2022-2023 season, although the new sponsor “Vivawest” will not pay more than the Russian. energy giant.

Schalke are looking to return to the Premier League (Bundesliga) again, which will add to the club’s TV broadcasting revenue, but are currently far from the qualifying positions to move up four points.

“If you look at the way we’ve dealt with the challenges we’ve been through since our relegation, including leaving our main sponsor during the season, it makes me feel optimistic,” said Roll Hammers.

And he continued: “Schalke together, with 160,000 members and millions of fans, has great strength and we are working to get back on and off the pitch.”

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