Hopp To Become Majority Owner Of TSG Parma Owner Confirms Takeover Of Club Hangin' With ... Seth Holmes Match-Fixing Law Doesn't Go Far Enough Allianz Arena Increases Capacity To 75K Munich City Council Approves New Arena Marussia Nose Section Sells For $23,500 Ecclestone Pushes For Engine Changes FIBA Says JBA Facing Serious Issues Executive Transactions
SBD Global/September 20, 2013/FinancePrint All
Bundesliga club FSV Mainz 05 "has unveiled a new record revenue and record profit for the '12-13 fiscal year," according to Jörg Schneider of the RHEIN ZEITUNG. Club Finance Dir Christopher Blümlein presented a profit of €8.3M ($11.2M) before taxes at the annual general meeting on Wednesday. The club also generated a revenue of €68.4M ($92.7M). In comparison to the previous year '11-12, the club was able to increase its revenue by about €100,000 ($135,000) and its profit by €800,000 ($1.1M). The club's payroll during the previous fiscal year was €22.8M ($30.1M). Mainz GM Christian Heidel said, "We have unintentionally made a precision landing in terms of revenue. The fact that we were able to increase our profit was caused by higher TV income" (RHEIN ZEITUNG, 9/19).
Spain's Superior Sports Council (CSD) on Wednesday considered the data it received regarding the economic situations of Spanish Football League (LFP) clubs to be "satisfactory," according to the EFE. The clubs presented their information "following a recent economic assessment." CSD President Miguel Cardenal met with LFP President Javier Tebas and LFP Corporate Dir General Javier Gómez, who "presented to Cardenal a report on LFP clubs' activity in the last two months." Cardenal said, "The clubs have done their duties and they are meeting the guidelines established following a line of work planned though the previous economic assessment. The plan was ambitious and very important for Spanish football." At the end of January, the CSD and LFP instituted an "economic control regulation which takes effect this season and requires teams to review their budgets in advance, not after the fact, as was previously the case" (EFE, 9/19).
Indian poultry conglomerate Venky's, which owns League Championship club Blackburn Rovers, has revealed annual losses of more than £27M ($43.3M), according to the PA. The accounts cover the period from April '12-March 31, "during which time Rovers were relegated from the top flight after 11 seasons." The overall losses totaled £27.1M and showed "significant decreases in gate receipts, sponsorship and broadcasting rights which laid bare the effect of demotion from the Premier League." Venky's owns 99.9% of Blackburn and the accounts noted the "need for the club to both comply with future Financial Fair Play regulations while also doing their utmost to return to the Premier League" (PA, 9/19).