Bundesliga Club Werder Bremen Reports Loss Of $10.7M During '12-13 Season
Bundesliga club Werder Bremen "continues to be in the red" and reported a loss of €7.9M ($10.7M) for the '12-13 fiscal year, according to SPIEGEL ONLINE. However, Bremen Sport Dir Thomas Eichin said that the club "is on the right path." In the previous season, the club reported a record loss of €13.9M. Werder Bremen generated revenue of €87.9M ($118.9M) during the '12-13 season.The club's capital, which "consists largely of retained earnings from previous years," was €16.5M ($22.3M) on the due date. Bremen Managing Dir Klaus Filbry said, "We consequently have reduced our player payroll and at the same time invested in the quality of the team" (SPIEGEL ONLINE, 11/18).