FC Nuremberg Reduce Debt in Latest Financial Report

October 11, 2012

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.