The result is a group-wide loss of 17.8 million euros. This corresponds to the forecast communicated in the interim report, the association announced in its announcement on Tuesday. It is well below the previous year’s loss of 52.6 million euros. At the same time, it was possible to reduce total liabilities from around EUR 217 million to EUR 183.5 million and financial liabilities from EUR 149 million to EUR 140.6 million in the same period.
Reduction of the cadre budget with great effect
“The development of these indicators makes it clear that our measures are taking effect. In the second half of 2020/2021 we were not able to sell a single ticket due to the Covid 19 restrictions. After relegation, despite sharply falling income, we had to carry out a historically unique squad restructuring and at the same time the economic ability to act of the association.We have succeeded in all of this in the outlined context,” stated CFO Christina Rühl-Hamers.
Above all, the management budget and the halt to an expansion project at “Berger Feld” have contributed to paying off the liabilities. After relegation last season, Schalke drastically reduced its player budget from 80 million euros to 20 million. However, on the income side, for example, a bridging aid from the state is also included. This must be paid back in good time. Equity has also “not yet developed positively, or only slowly,” the club explained.
Effects of the change of sponsors only in 2022
In addition to the imponderables of the corona pandemic, the separation from sponsorship with the Russian company Gazprom and the agreement with Vivawest as the new main sponsor are likely to have an impact on finances in the new financial year. Gazprom was the highest-paying sponsor in the 2nd Bundesliga with around nine million euros per year. Missing direct re-ascension could also have a negative effect.
Source: red