Bundesliga Club Hamburg SV Expects Biggest Loss In Club History, More Than $31M
Bundesliga club Hamburg SV Exec Chair Carl-Edgar Jarchow had already announced that the club "will have a double-digit-million loss," but new reports suggest that "it could be the biggest loss in club history," according to the HAMBURGER ABENDBLATT. A Hamburg-based radio stadion reported that the club expects a €24M ($31.6M) loss for the current season. Back in March, Jarchow said, "We have generated less income than expected from hospitality. In addition, due to our standing in the table, we will receive less TV money as previously planned." The club "had already endured high losses during the previous two seasons." In '10-11, the club lost €4.9M. During the previous year, the HSV lost €6.6M. The club's record loss of €14.3M occured during the '02-03 season (HAMBURGER ABENDBLATT, 5/8).