Currency Converter

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


SBD Global/January 20, 2014/Franchises

German 3rd League Football Club Hansa Rostock Closes Liquidity Gap Of $656K

The German Football Federation (DFB) "confirmed that 3rd League football club Hansa Rostock closed its liquidity gap and therefore successfully completed its post-licensing procedures to avoid DFB sanctions," according to the SID. The club was able to close the gap of €485,000 ($656,000) "through the help of a short-term loan by stadium naming rights sponsor DKB." Originally, Rostock's gap was around €1M ($1.35M), but due to "internal measures" the club was able to cut it in half. If Hansa had not come up with the money, the club would have had to pay a fee of €25,000 ($33,800) and suffered the deduction of two championship points (SID, 1/16).
Return to top

Related Topics:

Franchises, Europe

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug