Hesse: Eintracht expands the board: again millions in losses

Eintracht Frankfurt is broadening its leadership.

Hesse: Eintracht expands the board: again millions in losses

Eintracht Frankfurt is broadening its leadership. Philipp Reschke moves up to the board. After another loss of millions, the Hessians are facing major challenges, especially economically.

Frankfurt/Main (dpa/lhe) - With the expansion of the board, Eintracht Frankfurt has reacted to the ever-increasing challenges in professional football one week after winning the Europa League. In addition to board spokesman Axel Hellmann, CFO Oliver Frankenbach and sports director Markus Krösche, Philipp Reschke will also work on the Bundesliga club's executive committee. The contract of the 49-year-old legal advisor is initially valid until 2025. At the same time, the Hessians prematurely extended the contract with Frankenbach, which was valid until 2024, by two years. Krösche is bound until 2025, Hellmann even until 2027.

"By appointing Philipp Reschke to the Management Board, we are taking into account the rapid development of Eintracht Frankfurt Fußball AG and its subsidiaries. The decision to expand the Management Board was made in agreement with the existing Management Board in order to take over parts of their previous areas of responsibility in view of the enormous growth of the company to another shoulder", Frankfurt's supervisory board chairman Philip Holzer justified the personnel situation.

Reschke should take care of the areas of law, fan support, security, match day organization, spectator service, merchandising and human resources. One of his first tasks will be to clear up the pitch storm after the Europa League home game against West Ham United. There are sanctions on the part of UEFA - from a hefty fine to the exclusion of viewers.

This is inconvenient, because the club is facing major challenges, especially economically, after two years of the corona pandemic. Despite the triumph in the Europa League, where around 22 million euros were earned, Eintracht made a loss of around 23 million euros in the past season, according to CFO Frankenbach. In the 2020/21 season it was even 36.1 million euros.

Participating in the Champions League for the first time comes at just the right time. "We calculated losses last season because of Corona - and still invested. We can now reduce these losses," said Frankenbach. The association must also deal with capital inflow measures. "Because nobody knows what Corona might bring to us again in autumn. And because we can't assume that we'll get through the group stage in the Champions League just like that." After all, sales have increased again this season - from around 160 million euros to around 235 million euros.