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SBD Global/December 17, 2012/Finance
Hamburg SV Loses $8.7M During '11-12 Fiscal Year, MSV Duisburg Saved From Bankruptcy
Published December 17, 2012
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).