Guarantee by the state of NRW: Schalke and the lack of transparency

The Bundesliga has achieved it, to be quite a successful completion of the interrupted season as one of the pioneers of the liberation from the Lockdown to. But

Guarantee by the state of NRW: Schalke and the lack of transparency

The Bundesliga has achieved it, to be quite a successful completion of the interrupted season as one of the pioneers of the liberation from the Lockdown to. But the reputation of the industry remains battered. If officials claim they have understood the lesson, and announce that the ditzy-Money of the future will be sustainable and down-to-earth, remain big doubts.

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Now of FC Schalke a guarantee from the Land of 31.5 million euros, with a credit of allegedly 35 million Euro is to be secured. Critics will call it a scandal. The Gelsenkirchen Bundesliga company that has little to operate sustainably, receives support from the taxpayer, to pay his employees with the million-dollar salaries and the thick precious bodies?

The matter is more complex. For many years lander vouch for their big clubs. In North Rhine-Westphalia clubs have received from MSV Duisburg Alemannia Aachen, Borussia Mönchengladbach and Borussia Dortmund to Schalke 04 again and again, this Form of support, which first and foremost serves as a tool to get cheaper loans. The banks charge less interest, if the public sector bears the risks.

In a rule, the clubs pay back your debt without a dime of tax money being spent. "That's not libelous, knowing that the soul of the people feels differently," was Hans-Joachim Watzke, the managing Director of Borussia Dortmund said to the Schalke guarantee plans. As special reasons for the state government play Armin Laschet (CDU), a role.

Schalke 04 is one of the largest employers in the poorest city in Germany, layoffs would be expensive for the stricken community. In addition, the country stands to F. A. Z. information for other parts of the almost 200 million euros of debt, the burden on the club, and, not least, the municipal utilities have shares in the stadium. Horrendous losses for the public sector will not threaten, if Schalke can get out of the crisis.

These links are actually annoying. In the sense of a functioning competition, it would be good to help any club in this Form. "S04 has applied for the guarantee in the expectation to be in the decision is not different than companies from other areas are treated," write the Schalke, but the professional football is not comparable to engineering or the construction industry, because managers are under pressure to uncontrollable risks. As Schalke 04 in the last few years.

Updated Date: 28 July 2020, 13:19

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