Soccer

The Canadian Press - ONLINE EDITION

Bundesliga club Schalke reports $5.9M loss for 2012 due 'above all' to players' contracts

By: The Associated Press

Friday, Mar. 15, 2013 at 11:17 AM | Comments: 0

Schalke's Christian Fuchs of Austria reacts after Galatasaray scored their third goal during the Champions League round of 16 second leg soccer match between Schalke and Galatasaray in Gelsenkirchen, Germany, Tuesday, March 12, 2013. (AP Photo/Frank Augstein)

GELSENKIRCHEN, Germany - Schalke made a €4.55 million ($5.9 million) loss last year according to financial figures released by the German football club on Friday.

Schalke, which made a profit of €5.57 million in 2011, says the negative trend is due "above all" to contractual arrangements with players.

Revenue for the period from Jan. 1 to Dec. 31, 2012 was the second highest in the club's history at €172.6 million, compared to €199.8 million for the year before. Debts were reduced by €12.06 million to €151.69 million.

Schalke is fourth in the Bundesliga after recovering from a midseason slump, but the club has not factored Champions League qualification into its financial outlook for the year ahead.

Schalke finance chief Peter Peters says, "We're calculating rather on low revenue, which has the effect of reduced personnel costs."

Rate this
This article has not yet been rated.

We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

You can also register and/or login to the site and join the conversation by leaving a comment.

Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Comments

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Comment

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.