Wehrle defends himself against accusations from former club 1. FC Köln
Alexander Wehrle, CEO of VfB Stuttgart, defends himself against accusations by 1. FC Köln that he left his former club as a "restructuring case". "If it was meant that way, it would be difficult for me to understand," said the 48-year-old in an interview with the "Kölner Stadt-Anzeiger" (Saturday edition). "When I joined FC in January 2013, the financial situation was also difficult. We gradually managed to build up 38.5 million euros in equity from our own resources - without any one-off effects," explained the Swabian-born manager.
In a recent letter to its more than 130,000 members, FC wrote that the club was "on the brink of financial collapse after coronavirus and due to financial legacy issues". The current managing director Christian Keller spoke of the "FC restructuring case" on "Doppelpass" last Sunday. Wehrle was managing director in Cologne for nine years until his departure last year. He then went to VfB Stuttgart, which is currently in third place in the Bundesliga, while Cologne is second last.
Wehrle said that he could understand the term "restructuring case" if it was not only applied to FC Köln. "No Bundesliga club could have planned something like the coronavirus pandemic in advance. We're talking about a loss of revenue of up to 100 million euros. We had to introduce measures to secure the club's existence. Let's be clear: without the 38.5 million euros in equity, FC Köln would no longer exist in the form it does today."
Those responsible were forced to "strengthen equity and liquidity". Profit participation rights had been collected and future sponsorship income had been brought forward. However, these measures were "naturally agreed in detail with the current board and the joint committee".
- Following the criticism from 1. FC Köln, Alexander Wehrle, now at VfB Stuttgart, pointed out that he also faced financial challenges during his tenure as managing director at Cologne, leading to the improvement of the club's equity by 38.5 million euros.
- In response to FC Köln labeling his departure as a "restructuring case," Wehrle, who is currently helping VfB Stuttgart stay in third place in the Bundesliga, argued that no club could have prepared for the financial impact of the coronavirus pandemic and that almost all Bundesliga clubs needed to strengthen their equity and liquidity to ensure their survival.
Source: www.dpa.com
