Second Bundesliga Club FC Cologne Reports $1M Profit In '11-12 Fiscal Year

Second Bundesliga club FC Cologne "has released its financial numbers of the '11-12 fiscal year in which it generated a €800,000 ($1M) profit," according to the SID. The club's "revenue increased by €10M ($12.9M) to €80.2M ($103M)." At the same time, Cologne "was able to reduce its liabilities by €3.5M ($4.5M) to €27.4M ($35M)." The club's negative equity "has sightly increased due to its profit and now stands at €8.1M ($10.4M)." The club has drastically reduced its budget because of the team's relegation to the 2nd Bundesliga after the '11-12 season. FC Cologne Managing Dir Oliver Leki said, "We have already reduced the player payroll to €18M ($23.2M)" (SID, 11/28).