Currency Converter

Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).


SBD Global/December 17, 2012/Finance

Hamburg SV Loses $8.7M During '11-12 Fiscal Year, MSV Duisburg Saved From Bankruptcy

Bundesliga club Hamburg SV "has released its financial numbers for the '11-12 fiscal year in which it lost €6.6M ($8.7M)," according to the NDR. During the '10-11 fiscal year, the club lost almost €5M. Club Chair Carl-Edgar Jarchow said, "This is obviously not the result we were wishing for. We are currently working to make sure the minus won't be as high this season. However, this is also depending on possible player transfers during the winter." The club "has to save money and wants to sell several of its substitute players during the winter break." Hamburg SV "has been able to reduce its payroll by only €3M ($4M) to €43.8M ($57.6M)." Jarchow announced in April '11 that he "wants to cut payroll costs by €35M" (NDR, 12/14).

HELPING HAND: The SID reported 2nd Bundesliga club MSV Duisburg "has been saved from bankruptcy due to a further financial donation by club patron Walter Hellmich." Hellmich said, "A point deduction is off the table, the season is secured. The team, administration, coaching staff and numerous fans have asked me to not let the club die." Hellmich, who owns a construction company, will reportedly pay the final part to close an initially €5M ($6.6M) gap. Reports suggest that Hellmich will invest €600,000 ($790,000) of his private money in the club (SID, 12/16).
Return to top

Related Topics:

Finance, Europe

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug