Home News State of North Rhine-Westphalia vouches for million loan sports at Schalke 04

State of North Rhine-Westphalia vouches for million loan sports at Schalke 04

0

The federal state plans to secure a loan of 35 million euros from the stricken Bundesliga club. The club needs the money to make up for losses due to the Corona crisis.

The financially battered Bundesliga club Schalke 04 receives help from the state of North Rhine-Westphalia. According to SZ information, the state wants to secure a loan of 35 million euros with a guarantee. The loan comes from a bank consortium and is intended to compensate for defaults due to the corona pandemic. The money has to be paid back within four years; in the event of a default, the public sector would step in. At first it had Handelsblatt reported on the Monday evening of the guarantee and the loan volume was given as 40 million euros. As the newspaper writes, the help should be made public on Wednesday.

Prime Minister Armin Laschet (CDU) did not want to confirm the process at a press conference on Tuesday, but said that such guarantees had been granted several times in the past decades. According to information from the WDR, the state also guarantees the second division club VfL Bochum and the third division club MSV Duisburg – but there for smaller sums.

The amount of financial losses at Schalke 04 is on the level of rival Borussia Dortmund. On Monday, BVB announced in an ad hoc announcement that the Corona crisis would result in a shortfall of 45 million euros. “The expected figures are to be seen as a direct impact of the COVID-19 pandemic, which has affected all Borussia Dortmund income and revenue fields,” the statement said.

However, Schalke had already reported liabilities of EUR 197 million for the 2019 financial year. In addition, the club missed the qualification for a European competition after 16 games without a win. That is also why the club is considering introducing a salary ceiling for professionals of EUR 2.5 million per year.

During protests last Saturday on the Berger Feld club premises, fans had also demanded the withdrawal of Chairman of the Supervisory Board Clemens Tönnies. He is still under massive pressure as head of the company and the supervisory board of the Bundesliga club. In the main plant of the Tönnies meat group in the district of Gütersloh, well over 1,000 employees were infected with the corona virus. That is why there was strong criticism of the working conditions in the company. Many Schalke fans are calling for Tönnies to resign from the Royal Blues.

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.