Wednesday, January 26, 2022

Corona leaves traces Hertha BSC makes high million loss

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Bundesliga club Hertha BSC are still feeling the effects of the corona crisis. As the club announced on Thursday, the outsourced Hertha BSC GmbH & Co. KGaA generated a large minus.

Hertha BSC also generated a high deficit due to the corona pandemic last season. As Finance Managing Director Ingo Schiller explained on Thursday, around half of the deficit of 78 million euros is due to effects caused by Corona. Income totaling 105.2 million euros was offset by expenses of 183.2 million euros in the 2020/21 season.

Nevertheless, according to Schiller, the Berlin Bundesliga team is in a comparatively safe position, primarily thanks to the investments made by Lars Windhorst and his Tennor Group. The Hertha Group’s equity grew from 36.7 million euros to 107.5 million euros. The liabilities fell from 141.7 to 99.6 million euros.

“It’s a partnership that puts us in a comparably good position and keeps us in a stable situation,” said Schiller in front of the digital Hertha general meeting this Sunday. Windhorst has invested around 375 million euros in Hertha since 2019. Overall, Schiller expects a loss of 100 million euros due to Corona for the past two seasons and the current season. The lack of audience income from the three January home games against 1. FC Köln, Union Berlin and FC Bayern Munich alone resulted in losses of millions.

In the 2020/21 financial year, Hertha only posted income of EUR 200,000 from its home games. Provisions of EUR 20.1 million were posted for the rent for the Olympic Stadium to the Berlin Senate, which has yet to be clarified by an arbitration tribunal.

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