Football Bundesliga club VfB Stuttgart closed the past financial year with a large loss.

The deficit of the AG was 16.6 million euros, as the Swabians announced at their general meeting on Sunday. Among the reasons given by those responsible were the stadium renovation and the still noticeable consequences of the Corona pandemic.

“The two expensive special effects have a full impact on the balance sheet. In addition, we have invested in the sport with transfers, the construction of the rehabilitation and athletics hall and higher expenses for the youth performance centre and have also initiated urgently needed topics for the future,” said Chairman of the Board Alexander Wehrle.

Thanks to the transfer revenue generated, income in the field of match operations increased by 13 million euros compared to 2021. Sponsorship also generated slightly more than two million euros more than in the previous year. However, staff expenses also increased to over 90 million euros. Previously, the expenses were 82.8 million euros. In addition, there were higher expenses in the areas of match operations and other expenses.

In addition, VfB slipped further in the ranking of TV revenues due to its participation in the relegation. While the amount in 2021 was still 53.2 million euros, the Swabians only received 45.4 million euros this time.

However, it is pleasing to note that despite the high losses, the equity capital, which amounts to 11.2 million euros, remains positive and the liquidity is sufficient.