Bundesliga Club Werder Bremen Suffers Loss in '11-12 Fiscal Year
Bundesliga club Werder Bremen generated a considerable loss during the '11-12 season, according to the WESER KURIER. Werder Bremen Board Chair Willi Lemke said, "The numbers for the '11-12 fiscal year were clearly in the red. But due to a wise budget structure we are able to cope with it." The club's financial situation is much improved and not comparable with "last year's situation." Werder "lost revenue in the double-digit-million range" after it failed to qualify for the UEFA Champions League. The club reportedly "cut personnel costs" by €10M ($12.6M) (WESER KURIER, 9/4).