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SBD Global/November 28, 2012/Finance

Dusseldorf EG Needs To Come Up With $3.1M To Stay Afloat, Get License For '13-14

German Hockey League (DEL) club Dusseldorf EG "revealed it is missing about €2.4M ($3.1M) to secure its existence and be able compete during the '13-14 season," according to the DPA. The historical club declared its situation is "again dramatic." The main reason for the financial troubles "are missing medium-term investment agreements." Investments of €1.2M ($1.6M) "were only guaranteed for the current season."A club spokesperson said, "So far, we have no financial foundation for the granting of a license for the upcoming season" (DPA, 11/26). In Dusseldorf, Gianni Costa reported the club "has contacted about 1,000 companies regarding potential sponsorship deals over the last several months." Administrator Arndt Rautenberg said, "There have been promising talks. However, we haven't been able to put the pen to the paper." The DEG has to come up with binding agreements by Feb. 15 otherwise it could mean the end of a German hockey institution. DEG Managing Dir Elmar Schmellenkamp said, "We have to get those on board that have hesitated with an involvement so far" (RP ONLINE, 11/27).
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