Last year’s collapse of KirchMedia could see revenues reduced at Germany’s 36 top clubs this season by €180 million, the German Football League (DFL) has warned.
The clubs have a combined debt of €599 million worth of debt, while the 36 sides in the country’s top two divisions posted record turnover of €1.3 billion last season, despite lower television revenues, the DFL revealed.
However, the collapse of Kirch will see turnover reduced to around €1.13 billion for the 2002-03 season, the DFL said. Last season the collapse of Kirch cost the Bundesliga clubs around €70 million in lost TV money.
“We really have to react to this. The clubs are required to make savings. And that can only happen by cutting costs,” said DFL executive Wilfried Straub.
Only half of the clubs can expect to make a profit in the current season, while several have announced that hey will reduce players’ wages as a way of reducing overheads.