FPL Signs On As Sponsor Of Miami ePrix Former Barcelona President Testifies ACB Addresses Sunday's Brawl Executive Transactions Names In The News Jagmohan Dalmiya Named BCCI President F1 CEO Ecclestone Grants Advance Counterfeit Copa Do Brasil Tickets Seized Renovated Estádio De Pituaçu Obsolete Chinese Seal Deals With European Clubs
SBD Global/October 11, 2012/FinancePrint All
Bundesliga club FC Nuremberg "revealed its financial numbers for the '11-12 fiscal year and seems to be on a good way to become debt free," according to the SID. The club generated €4M ($5.2M) in profits during the '11-12 fiscal year and was able to reduce its debt to €2.3M ($3M). According to team sources, the club "has sufficient hidden reserves as opposed to its debt." In '10-11, Nuremberg generated €4.3M in profits, but the club's debt stood at €6.4M at that time. FC Nuremberg CFO Ralf Woy said, "We reached our goal to consolidate the club's debt." He also said the club's financial "imbalance has drastically improved" and "returned to a reasonable economic path." The high amount of debt "is a result of the club's relegation to the 2nd Bundesliga following the '07-08 season." This year's profit is "mainly the product of player transfer fees" that accumulated to €6.4M ($8.2M). Nuremberg's revenue has slightly decreased by €1.7M ($2.2M) to €57.1M ($73.6M). The team's payroll was €20.5, which is almost €4M less than the year before (SID, 10/9).
MONEYMAKER: The DPA reported that the anniversary bonds of Bundesliga club Hamburg SV "have already generated €6.5M ($8.4M) in a little over a week." Hamburg, which celebrated its 125th anniversary in '12, "will use the generated money to finance a new youth academy". The club expects to generate €12.5M ($16.1M) through its bonds (DPA, 10/10).