FC Nuremberg Reduce Debt in Latest Financial Report

Bundesliga club FC Nuremberg are on their way to becoming debt free after they revealed their financial report for the 2011-12 fiscal year.

The club generated €4M ($5.2M) in profits during the 2011-12 fiscal year and was able to reduce its debt to €2.3M ($3M). According to team sources, the club “has sufficient hidden reserves as opposed to its debt.” In ’10-11, Nuremberg generated €4.3M in profits, but the club’s debt stood at €6.4M at that time.

FC Nuremberg CFO Ralf Woy said: “We reached our goal to consolidate the club’s debt.” He also said the club’s financial “imbalance has drastically improved” and “returned to a reasonable economic path.” The high amount of debt “is a result of the club’s relegation to the 2nd Bundesliga following the ’07-08 season.” This year’s profit is “mainly the product of player transfer fees” that accumulated to €6.4M ($8.2M). Nuremberg’s revenue has slightly decreased by €1.7M ($2.2M) to €57.1M ($73.6M). The team’s payroll was €20.5, which is almost €4M less than the year before.