Force India Unveils New Car UEFA Unwilling To Discuss RB Hungary Withdraws 2024 Games Bid China Plans 50,000 Academies By 2025 AFL May Seek New AFLW TV Deal AFC, Allianz Announce Partnership Six Nations CEO Denies Georgia Admission Executive Transactions Aberdeen Stadium Bid Hits Setback RFU Execs Out-Earning FA Counterparts
SBD Global/December 5, 2012/FinancePrint All
Second Bundesliga club SC Paderborn "has released its financial numbers for the '11-12 season in which it generated a profit of €1.2M ($1.6M)," according to SID. The club's on field success, with a fifth place finish last season, "also has paid out financially." The club announced its numbers on Monday during its annual general meeting. In addition, Paderborn "was able to reduce its liabilities from €5.3M to €3.9M ($5.1M)." Club Chair Elmar Volkmann said, "The club has developed in the right direction. However, we can't relax on our success in the recent past" (SID, 12/3).
A LOOMING LOSS: The DPA reported Bundesliga club FC Augsburg "would take a hit of about €10M ($13.1M) to its annual budget should it be relegated to the 2nd Bundesliga at the end of the season." Club Chair Peter Bircks said, "It would be a huge financial step back, but we would be able to cope with it." Augsburg's current annual budget is around €38M ($49.7M). Augsburg "is currently 17th in the Bundesliga with eight points out of 15 games" (DPA, 12/4).
Financially struggling Swiss National League B hockey club Sierre revealed that it is "about to file for bankruptcy," according to the SCHWEIZER FERNSEHEN. The club's board of directors Monday told its shareholders that it "has to file for bankruptcy." Sierre has allegedly a debt of about CHF 1M ($1.1M). The club "will file for bankruptcy because its financial rehabilitation attempt outside of court has failed." Sierre "was granted its license for the current season under strict requirements" by the association. A statement from the Swiss Ice Hockey Association said that the club has received an additional debt claim in the "mid six-figures," which dramatically worsened Sierre's situation. The association "does not rule out the possibilities of revoking Sierre's license and exclude the team from the NLB" (SF, 12/3).