Bundesliga Club Schalke 04 Releases Its Mid-Year Numbers, Loss of $35M
Bundesliga club Schalke 04 "released its mid-year financial numbers, which showed the club generated €77.9M ($100.5M) in revenue," according to the SID. Over the same time period last year, Schalke "generated revenue of €134.8M." The drastic decrease is due to "reduced income from player transfers and TV rights." Schalke CFO Peter Peters said, "The mid-year numbers are just as we expected. We consciously refrained from possible high player transfer income during the offseason." Schalke was able to reduce its payroll by €3M ($3.9M) to €50.6M (65.3M) as it reduced its roster from 31 to 26 players. The club "reported a loss of €21.7M ($35M) after taxes." Schalke, however, was able to "reduce its debt in the first six months by €2.8M ($3.6M) to €182.1M ($235)" (SID,9/24).