Schalke Releases '12 Financial Results Which Include $6M In Losses, $225M In Revenues
Bundesliga club FC Schalke 04 "has released its financial results" from the '12 fiscal year in which it lost €4.55M ($5.94M), according to KICKER. Just one year earlier, Schalke generated €5.57M in profits. The club said that the negative result is due to "player contracts that it signed over the last several years in regards to duration and salary." Schalke also generated €172.6M ($225M) in revenue, which is the second-highest amount in club history and in part due to its Champions League participation. The club's record revenue of €199.8M was set in '11. Schalke's liabilites decreased by €12.06M ($15.7M) and stand at €151.69M ($198M). Club CFO Peter Peters said, "We will continue to decrease our financial liabilites, although we can't rule out to finish the 2013 fiscal year with a loss as well" (KICKER, 3/15).