Thursday, June 17, 2021

Stuttgart may lose 45m euros due to pandemic


tiamin rice

VfB Stuttgart are expecting a loss of around 45 million euros (54.6 million dollars) due to the coronavirus pandemic.

The pandemic has been forcing games to be held behind closed doors for more than a year.

“I can only talk about what is known so far. We’re in a similar situation that Eintracht Frankfurt, for example, also have to cope with. So, about 45 million euros,” club chief Thomas Hitzlsperger said on Monday.

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“Since we don’t know when spectators will be allowed again, it’s difficult to make a forecast until the end of the year.”

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Stuttgart are missing out on around two million euros per home match without fans.

“The TV income helps us all to get through this phase,” Hitzlsperger said.

Stuttgart players and officials have already waived part of their salaries, while some staff were furloughed.

Last spring, the club applied for an aid loan, which has been approved by state-owned development bank KfW, and recently had access to up to 25 million euros.

“Another season without spectators would also be feasible. But after that, things would start to get dicey,” Hitzlsperger explained.

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