Jaguar Tunes Up Tennis Portfolio Executive Transactions Wasps Seek To Raise $53M With Bond Retails Score Big Ahead Of 'Megafight' More Than 2M Watch Europa League Barcelona, Fitness Time Ink Deal Hamilton Stays Atop Of Sport Rich List ICC Launches Urgent Investigation Names In The News UCI Confirms Astana To Keep License
SBD Global/November 29, 2012/FinancePrint All
Second Bundesliga club FC Cologne "has released its financial numbers of the '11-12 fiscal year in which it generated a €800,000 ($1M) profit," according to the SID. The club's "revenue increased by €10M ($12.9M) to €80.2M ($103M)." At the same time, Cologne "was able to reduce its liabilities by €3.5M ($4.5M) to €27.4M ($35M)." The club's negative equity "has sightly increased due to its profit and now stands at €8.1M ($10.4M)." The club has drastically reduced its budget because of the team's relegation to the 2nd Bundesliga after the '11-12 season. FC Cologne Managing Dir Oliver Leki said, "We have already reduced the player payroll to €18M ($23.2M)" (SID, 11/28).