05.05.2010
Schalke's Royal Blues drop deep into the red
Bundesliga side Schalke, who are set to finish the season as runners-up to Bayern Munich this weekend, revealed Wednesday their debt rose to 135.2 million euros in 2009.
The Royal Blues have produced last year's financial report showing that revenues fell 14 million euros in 2009 to 119 million and that they recorded a further trading loss of 16.8 million euros.
"In 2009, we had to manage a difficult situation, but we achieve it," said Schalke's finance manager Peter Peters.
To ensure the club's survival, Schalke sold part of their Veltins Arena stadium in Gelsenkirchen for 25.5 million euros last year.
The stadium was built at a cost of 190 million euros and the debt is due to be repaid by 2018.
"We are on the right track to being in the black and we will not become a team with debt," said Schalke president Clemens Toennies.
Even though Schalke have had to lay off ten members of staff, they are expected to keep their stars like Manuel Neuer, Kevin Kuranyi and Rafinha.
They face Mainz in the final game of the season this weekend and are set to finish second behind Bayern which will give them an automatic place in next season's lucrative Champions League competition.
Source: © 2010 AFP - Torsten Silz
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