The football AG of the second division club Hamburger SV has closed the eleventh year in a row with a loss.
The club announced today (Tuesday) that the deficit for the 2020/21 financial year amounts to 4.7 million euros. In 2019/20, the deficit had still been 6.7 million euros. In addition to cost reductions, it is mainly thanks to state Corona aid (almost 11 million euros) and the profit from the sale of the stadium property (14.6 million euros) that the losses were not higher. According to Frank Wettstein, these measures were elementary, but also because these two special effects did not occur again, the CFO of HSV Fußball AG expects financial losses again for the current season.
Turnover fell by 41.7 per cent in 2020/21, while the Hamburg club still took in 95.7 million euros in the last financial year it was only 55.8 million euros in this one. The main reason for this was the Corona-related ghost matches, which caused revenues from match operations to plummet almost completely, from 22.1 million to 600,000 euros However, HSV was able to reduce its debts by 6.6 million euros to51.2 million euros despite the deficit. “Since March 2020, our primary focus has been on ensuring liquidity,” said Wettstein.
