On Wednesday, MSV Duisburg presented its financial balance sheet for the 2020/2021 financial year. President Ingo Wald is more relaxed about the future than he was some time ago.
In this respect, MSV Duisburg is only one of many clubs. But the effects of the Corona pandemic have certainly hit the economically stricken club hard. 18 of the 20 home games from the 2020/21 season had to take place without spectators, and sponsorship revenues were also missing during this time.
The club can now count on these important funds again. In view of the losses, however, MSV had to implement a whole bundle of special measures, which are mainly reflected in the other operating income. These primarily included the liquidity-neutral transfer of parts of the marketing rights to the newly founded MSV Duisburg Vermarktungsgesellschaft mbH & Co. KG as a wholly-owned subsidiary of MSV Duisburg GmbH & Co. KGaA in the amount of 11.8 million euros. In addition, MSV received Corona subsidies in the amount of 1.2 million euros.
“We have managed to achieve a sustainable effect with more leeway by bundling the measures. We will not be in the black in the 3rd League, but we were able to reduce the deficit significantly. We will continue to be in the red, but on a much smaller basis than in the past. That gives us plenty of time and breathing space to achieve promotion to the second division. That’s what it’s all about,” explained MSV President Ingo Wald at the balance sheet press conference on Wednesday morning.
This gives us plenty of time and breathing space to achieve promotion to the second division. That’s what it’s all about
Ingo Wald
His addition: “The brand values created in the 120-year history can now also be made visible on the balance sheet.” The good news is that the KGaA’s equity capital amounts to 8.7 million euros as of 30 June 2021, compared to a negative 6.1 million euros a year earlier.
“The new balance sheet picture with positive equity strengthens the KGaA’s position, especially vis-à-vis third parties,” said Wald, who can now talk to the DFB in a completely different way. Background: From the 2023/2024 season onwards, the association will significantly tighten the requirements for equity capital requirements, which could result in hefty fines.
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Wald also made it clear that the financial worries caused by the pandemic were much greater than during the forced relegation in 2013. Despite the liabilities, the threat of insolvency is no longer an issue at the moment. “We are a bit more relaxed. It’s not as dramatic as it was in January 2021.” At that time, Capelli Sport had increased its capital shares in MSV Duisburg GmbH & Co. KGaA from 10.1 to 40.1 per cent.
However, the financial statements would have to be considered individually. While the e.V. generated a positive net profit of 1.02 million euros (2020: 0.19), the negative equity not covered by assets in the overall consolidated balance sheet as of 30 June 2021 remains at 2.1 million euros. At least the negative value of 7.15 million euros could be reduced compared to 2020.
To make matters worse, in addition to former coach Hagen Schmidt (contract until 30.06.2023), even former sports director Ivica Grlic continues to be paid by MSV Duisburg despite his resignation in February and, surprisingly, is still contractually tied to the club. Wald can sleep much more soundly with regard to the financial situation than he did some time ago. However, the 64-year-old did not want to say too much about Grlic. Talks are currently underway about a contract settlement with the former squad planner.
Further facts & figures: MSV Duisburg GmbH & Co. KGaA closed the 2020/21 season with an annual surplus of 12.1 million euros. This result is due to a significant increase in other operating income of 16.6 million euros, while sales revenue decreased to 10.6 million euros.
Accordingly, the total operating performance amounts to 27.2 million euros, the total expenses amount to 15.1 million euros. The number of members at Meidericher Spielverein 02 e.V. Duisburg remained constant at 8,523 as of 30 June 2021 compared to the previous year (8,558). As of 30.06.2022, MSV had 8,638 members.