Bundesliga Club FC Nuremberg Reduces Its Debt, New Financial Numbers Reveal
Bundesliga club FC Nuremberg "revealed its financial numbers for the '11-12 fiscal year and seems to be on a good way to become debt free," according to the SID. The club generated €4M ($5.2M) in profits during the '11-12 fiscal year and was able to reduce its debt to €2.3M ($3M). According to team sources, the club "has sufficient hidden reserves as opposed to its debt." In '10-11, Nuremberg generated €4.3M in profits, but the club's debt stood at €6.4M at that time. FC Nuremberg CFO Ralf Woy said, "We reached our goal to consolidate the club's debt." He also said the club's financial "imbalance has drastically improved" and "returned to a reasonable economic path." The high amount of debt "is a result of the club's relegation to the 2nd Bundesliga following the '07-08 season." This year's profit is "mainly the product of player transfer fees" that accumulated to €6.4M ($8.2M). Nuremberg's revenue has slightly decreased by €1.7M ($2.2M) to €57.1M ($73.6M). The team's payroll was €20.5, which is almost €4M less than the year before (SID, 10/9).
MONEYMAKER: The DPA reported that the anniversary bonds of Bundesliga club Hamburg SV "have already generated €6.5M ($8.4M) in a little over a week." Hamburg, which celebrated its 125th anniversary in '12, "will use the generated money to finance a new youth academy". The club expects to generate €12.5M ($16.1M) through its bonds (DPA, 10/10).