SBD Global/November 19, 2012/Finance

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  • Carlos Slim's Group Becomes Majority Shareholder Of Spanish Club

    Mexican billionaire Carlos Slim has invested €2M ($2.5M) in Spanish third-tier team Real Oviedo, according to L.G. Manjoya of AS. The acquisition was made through Slim's company Grupo Carso. The "significant bid" from Slim was superior to the €1M ($1.3M) offer made by Spanish entrepreneur Quique Pina. Slim is now the majority shareholder of the club (AS, 11/18). EUROPA PRESS reported the main reason for the acquisition of the club was "the history it has in Spanish football and the extraordinary fans that support it." Slim hopes to "create synergies and exchanges" between Spanish and Mexican football. In a release, the Grupo Carso also revealed that Antonio Fidalgo would continue as president of the team (EUROPA PRESS, 11/17). The AP noted the Spanish club was facing bankruptcy "before a huge fundraising effort by fans." The team "narrowly staved off extinction" after supporters over the past two weeks bought more than $1.9M of new shares in the club (AP, 11/17).

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  • Second Bundesliga Club Dynamo Dresden Announces $800K Profit Last Fiscal Year

    Second Bundesliga club Dynamo Dresden "released its financial numbers for the '11-12 fiscal year in which it generated a profit of €634,000 ($807,000)," according to the SID. The club generated €20M ($25.5M) in total revenue, which is "almost double the amount of the previous year." It also was the club's "second consecutive year in which it generated a profit." In addition, Dresden "was able to reduce its debt by almost €750,000 ($955,000)." However, the club's financial situation "stays difficult." The club "continues to be highly indebted due to high liabilities from its past" (SID, 11/17).

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  • German Football Clubs On The Brink Of Liquidation, Aachen And Duisburg Run Out Of Time

    German 3rd League club Alemannia Aachen and 2nd Bundesliga club MSV Duisburg "are in such deep financial trouble that it threatens the existence of both clubs," according to the KURIER. Aachen "will have to file for bankruptcy on Friday after several reconstruction attempts have failed." Lawyer Michael Mönig, who has been hired by the club to oversee the reconstruction attempts, said that "the club currently misses more than €4M ($5,1M)." Mönig said, "It is a huge liquidity gap. We can't continue with it anymore." Aachen wants to continue to play until the end of the season. Following the insolvency proceedings, Aachen "will start from scratch in the Regionalliga," which is the fourth-highest league in Germany. The main reason for the club's financial troubles "has been the construction of the new Tivoli-Stadium, which had a price tag of €50M and opened in the summer of '09." Another club that seems to have run out of time is the MSV Duisburg. The club "reportedly misses several million euros." In order to enter a rehabilitation concept by an investor group, Duisburg has to change its club statue, which can only be done with the approval of its members at an extraordinary member meeting (KURIER, 11/17).

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