Corona-crisis: VfB Stuttgart applied for state help

The recovery of the past the spirit of the season for many professional clubs in Germany a matter of survival. Without the lush TV money it would have come in t

Corona-crisis: VfB Stuttgart applied for state help

The recovery of the past the spirit of the season for many professional clubs in Germany a matter of survival. Without the lush TV money it would have come in the past few weeks to one or the other of insolvency. However, the Corona caused financial problems are still omnipresent, many clubs are economically faced with a lack of revenue with their backs to the wall: Now the Bundesliga returnees VfB Stuttgart has requested to Bridge the revenue loss with a multi-million dollar state loan.

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But the Swabians are with this much-discussed measure in the current crisis alone. The strong-hinged club Schalke 04 have had recently asked the state of North Rhine-Westphalia is a guarantee. Also Werder Bremen have confirmed to want to loans at the state-owned KfW-Bank request. And even in the case of listed Borussia Dortmund-it is said to have similar plans given, reported the mirror recently. On demand it was called, a foresighted crisis management, in dealing with all scenarios.

The VfB was as clear. "We have tested in the Phase of the lock downs all the possibilities for economic stabilisation and, among other things, on our Bank an application for KfW subsidies provided, in order to secure our liquidity," said Stuttgart's chief financial officer Stefan home to the Stuttgarter Nachrichten and the Stuttgarter Zeitung: "This was one of our measures taken to safeguard the economic survival of the VfB in a time in which no one could predict when and how it is in football, more would go." The Stuttgart-based application to the Kreditanstalt für Wiederaufbau (KfW) is allegedly to take out a loan in the amount of ten to 15 million euros. In the case of Schalke, the reported 2019 liabilities in the amount of 198 million euros, as much as 40 million in the conversation.

Watzke defended the action

understanding for such relief came even from arch-rivals Dortmund. "I don't think that's defamatory," said BVB managing Director Hans-Joachim Watzke. The League will rightly expected, that you paid your taxes, "but if the Federal government or the country, or who decides, always, corona-damaged businesses to assist, the same rights do not apply to us, obviously". Football clubs of which, in principle, "not equal to to exclude my principle of equal treatment".

Werder's managing Director Klaus Filbry had already said in April: "The state has made the Instrument KfW available. And it is useful to bridge this Phase, and make sense out of this.“ He can see in the "duty to ensure the economic survival of the Werder". Especially since no one can get money as a gift, and that it was, in fact, loans, as Watzke stressed. "The state doesn't offer something to companies of stifling liquidity. Where the big Problem is, I don't understand," he said, and added, with a view to Schalke: "I don't understand that the state government is being attacked because of that."

Updated Date: 16 July 2020, 08:19

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