Crisis-plagued DFB ends 2022 with a loss of millions
The German Football Association is not doing well financially. The year 2022 will be in the red. The association needs a successful national team. If the 2024 European Championship falls through, the DFB will face new and probably even bigger problems.
The German Football Association is reporting a loss of 4.2 million euros in its financial report for 2022. This was announced by the DFB today, Friday. The "Handelsblatt" had previously reported on this. The DFB justified the deficit with the sporting failures of the national team, the construction costs and ongoing expenses for the campus, which cost almost 190 million euros, as well as the disputes with the tax office. According to the statement, special items from the revocation of the non-profit status for the years 2006, 2014 and 2015 had a negative impact on the balance sheet.
Without special items, the loss would have been as high as 17.5 million euros, Handelsblatt continues. However, a dissolved pension fund brought in 9.5 million euros. The free reserve, which is important for the balance sheet, fell to just 41 million euros.
It is "still an acceptable economic result overall, considering that the national team was eliminated in the preliminary round at the World Cup in Qatar and we are now dealing with a structural deficit," DFB finance director Stephan Grunwald was quoted as saying by the newspaper. The association "continues to face major challenges" and will "consistently continue on the path it has taken", he added in an association statement.
Economically, the DFB is dependent on the performance of the men's national team. Should next year's European Championships also be disappointing in front of a home crowd, "we will have a more serious problem", said Grunewald. The non-profit association has leased the rights to the national team, the DFB Cup and individual DFB leagues to its subsidiary DFB GmbH & Co. In the first year of 2022, this generated a profit of 23 million euros on a turnover of 377 million euros. According to the DFB e.V., it expects to break even in 2023.
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The German National Soccer Team's poor performance at the World Cup in Qatar contributed to the DFB's financial losses in 2022. Despite the deficit, DFB finance director Stephan Grunwald emphasized that a successful national team is crucial for the association's financial stability, hinting at potential problems if the 2024 European Championship is unsuccessful.
Source: www.ntv.de
