Football-Bundesliga - Not only sports: VfB also economically on the right track
VfB Stuttgart has financially recovered after difficult years. For the first time since 2019, the Football Bundesligist reported a small profit of approximately 700,000 Euro in the business year 2023, according to Vorstandsvorsitzender Alexander Wehrle at the members' meeting, speaking of a "black zero." The "financial turnaround" has been achieved.
Following the financially challenging Corona pandemic, VfB Stuttgart's revenue increased by over 40% to 217.9 million Euro within a year. In 2022, it was still at 154.8 million Euro. The significant increase is also due to the financially profitable sale of players such as Konstantinos Mavropanos, Wataru Endo, and other key performers, who, according to VfB Finance Director Thomas Ignatzi, generated around 55 million Euro gross revenue for the VfB coffers.
Strengthening the equity capital
The liabilities of the AG are in the middle of a two-digit million range, Ignatzi stated without specifying an exact figure. The club is attempting to reduce the debt step by step. The goal is also to increase the 11.8 million Euro end-of-year equity capital by the end of 2023 to strengthen the financial position permanently.
Contribution of Porsche AG as an investor
The entry of Porsche AG as an investor, which has not yet been reflected in the financial year 2023, is a significant contribution. The sports car manufacturer acquired ten percent of VfB's shares for around 40 million Euro.
Consolidating sportingly
Ignatzi stated that the club intends to "sportingly consolidate" following the second place in the previous Bundesliga season and qualification for the Champions League. "We want to establish ourselves firmly in the first league and do so on the basis of a healthy economic foundation."
Perspectively, there is expected to be further revenue growth due to the redevelopment of the stadium with now 60,000 seats and participation in the Champions League. Additionally, the club has made significant investments in player transfers with high millions in both the sale of key performers and the signing of new professionals. "We are back," said Wehrle.
- Despite the challenging financial situation caused by the Coronavirus pandemic, VfB Stuttgart, a Bundesliga team from Stuttgart, Baden-Württemberg, Germany, managed to report a small profit of approximately 700,000 Euro in the business year 2023, according to Vorstandsvorsitzender Alexander Wehrle.
- Alexander Wehrle, speaking at the members' meeting, celebrated the club's "financial turnaround," highlighting that VfB Stuttgart's revenue increased by over 40% to 217.9 million Euro within a year, partly due to the profitable sale of players like Konstantinos Mavropanos and Wataru Endo.
- In addition to the increase in revenue, Porsche AG, a well-known sports car manufacturer, made a significant contribution to VfB Stuttgart's financial stability by acquiring ten percent of the club's shares for around 40 million Euro, serving as an investor.
- With the stabilized financial situation including increased equity capital and the strategic investments in player transfers, VfB Stuttgart aims to "sportingly consolidate" its position in the Bundesliga and pursue a successful future in German football, as stated by VfB Finance Director Thomas Ignatzi and Vorstandsvorsitzender Alexander Wehrle.
