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SBD Global/November 7, 2012/Finance
Bundesliga Club Werder Bremen Announces $17.8M In Losses For Fiscal Year '11-12
Published November 7, 2012
Bundesliga club SV Werder Bremen lost €13.9M ($17.8M) during the '11-12 fiscal year the club revealed Monday, according to Matiszick & Dorow of the WESER KURIER. However, the club's management is "not too worried about this number as it has enough equity to balance the losses, and it also initiated a consolidation process." During the previous fiscal year, Werder Bremen generated a profit of €8.2M. Looking at the current loss and last year's profit, "the club has lost a total of €22.1M ($28.3M) during the '11-12 fiscal year." In addition, the club "did not break the €100M-revenue mark for the first time since '06-07." Werder Bremen generated revenue of €95.6M (122.4M) in '11-12. Club GM Klaus Allofs said, "We are not comfortable in our skin and would have liked to present a different result. But this is no reason to panic" (WESER KURIER, 11/5).
FORTUNE FOR FORTUNA: GOAL.com's Jan Schultz reported that Bundesliga club Fortuna Dusseldorf "generated a positive financial result for the first time in 16 years." Team CFO Paul Jäger "announced a profit of €800,000 ($1M) in front of more than 1,000 club members." Jäger said, "For the first time in a long time, the club again has positive assets of €63,988.04 ($81,900)" (GOAL.com, 11/6).
IN HIGH DEMAND: Bundesliga club Hamburg SV "will increase the subscription volume of its successful fan bonds by an additional €5M ($6.4M)." The initial fan bonds to finance a new youth campus with a subscription volume of €12.5M ($16M) "have been sold out after only 17 days." Starting on Nov. 15, the club "will issue a new set of fan bonds" (SID, 11/5).
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FORTUNE FOR FORTUNA: GOAL.com's Jan Schultz reported that Bundesliga club Fortuna Dusseldorf "generated a positive financial result for the first time in 16 years." Team CFO Paul Jäger "announced a profit of €800,000 ($1M) in front of more than 1,000 club members." Jäger said, "For the first time in a long time, the club again has positive assets of €63,988.04 ($81,900)" (GOAL.com, 11/6).
IN HIGH DEMAND: Bundesliga club Hamburg SV "will increase the subscription volume of its successful fan bonds by an additional €5M ($6.4M)." The initial fan bonds to finance a new youth campus with a subscription volume of €12.5M ($16M) "have been sold out after only 17 days." Starting on Nov. 15, the club "will issue a new set of fan bonds" (SID, 11/5).
