Eintrach Frankfurt Takes $11.1M Hit Last Fiscal Year In The 2nd Bundesliga
Bundesliga club Eintracht Frankfurt "released its financial numbers for the '11-12 fiscal year in which it lost €11.1M ($14.4M)," according to the DPA. During the '10-11 season, which was the club's last Bundesliga season before it returned to the top flight this year, the club "generated a small €53,000 profit." Frankfurt expects a €326,000 ($424,000) loss for the current season. Club Chair Axel Hellmann said that the club "is financially healthy because the team immediately returned to the top flight after only one season in the 2nd Bundesliga and has high equity." However, the club's equity decreased from €15.9M ($20.6M) to €4.8M ($6.2M) due to the club's losses in the 2nd Bundesliga. Hellmann said, "It was highly important to return to the Bundesliga. Even more important is to stay in the league as this would guarantee us a higher share of the increased TV money next season" (DPA, 11/30).