Criticism of million Deal: RB Leipzig and a Good night story

The real League-voltage field, such as low, on the one hand, the athletic differences are, and how large at the same time, the structural, the Eintracht Frankfurt this weekend and next to the playing field two remarkable contributions delivered. Sporty and the result is very easy to get right to the point: The Frankfurt travelled on the 31. Round as the relegation threatened club to Berlin and returned to a commanding 4:1 win as a table in tenth place with the hope that the international qualification back. Of the second class of the European business in ninety minutes – so quickly can change in the Premier League, the sporting perspectives.

Michael Horeni

a correspondent for sports in Berlin.

the fact is, ahead of the Bundesliga-final sprint, however, that the seven seats, which entitle to the participation in the international business, four of clubs, the start, under specific conditions, in the Bundesliga, you could also say: with privileges. Hoffenheim with a patron Hopp on rank seven, VfL Wolfsburg with Volkswagen to rank six, with Bayer Leverkusen the Bayer plant after the 1:1 on Sunday at Schalke 04 on rank four and RB Leipzig, Red Bull on Position three. Also, in the Corona-crisis, these clubs were allowed due to their structure, better to feel protected than many competitors – and, from the looks of it, emerging stronger from the crisis.

"highly deficient" business model

Immediately prior to the sporting victory in Berlin, the harmony introduced by four goals after the change, and had the Eintracht Board of Directors Hellmann compared to the "Kicker" is critical to the most recent known development in the case of RB Leipzig reacts. A week ago, it became public that Red Bull had converted in the previous year a loan of 100 million euros to RB Leipzig in a capital reserve. The discussion in the League about structural inequality flared up again, however, behind his Hand. Hellmann was from 2012 to 2016 as the chief financial officer of the Frankfurt as a business lawyer in the area of structured Finance, has focused on this development of the public view. "The capital measure of RB Leipzig in April 2019 is not objectionable according to the publications in the Federal Gazette in terms of the law, if it rules with the Association, so, in particular, the 50+1 rule, is consistent," says Hellmann.

"The selected financial instrument, the Debt-Equity Swap, however, reveals three things. Firstly, The business model of RB Leipzig is highly deficient and the athletic success ,to Pump‘ built in. Secondly, With the conversion into equity only the balance sheet is not optimized to meet statutory or legal requirements, but the goal is obviously to create for the future, space for further foreign capital, to own a sporty competitive position on a national and international level. Thirdly, The happy story told, it was the contributions of the RB group to an investment in a viable business model, it is allowed to Stand, is now – as a Good-night story referred to. In this respect, the RB model is not different from the other European clubs dedicated state Fund.“ The evaluation of all the stay for the competition cosmos League, so Hellmann, up to you.

The Frankfurter finding that Leipzig had a highly deficient business model is supported when looking at the transfer of results. RB Leipzig has in the past five years, a negative transfer balance of 158,89 million euros, only the FC Bayern comes (173,45 million), according to "transfermarkt.de" to an even worse result in this period. Frankfurt achieved a net Income of 26.5 million euros, it is better to BVB (164,02 million), Hoffenheim (115,83) and Mainz (47,7) there. The harmony and part of your Fans plead for a Europe-wide rules which will in future be geared to the cash flows in the "primary business of football".

It was important to create fair and undistorted competition, in which you can connect to work by "a good job in the core business, and not by external financial injections to the top", as it is called in a claim the paper of the supporters Association "North-West curve e. V.", the club in the core and with a view to the DFL announced the Task Force "future of professional football". The goal is a competition at eye level, it's been years in the League was. "In Essence, the paper takes up demands of Financial fair play, it wants to secure the integrity of the competition and more equality of Competition to make the League more exciting and balanced", had Hellmann said recently of the F. A., for example. "The content is, behind Eintracht Frankfurt is full."