The management of Schalke 04 had to face some harsh criticism at the general meeting. The criticized CEO promoted the planned support cooperative, which is intended to reduce the debt burden.

Self-criticism from the management team, calls for resignations from members: heavily indebted and threatened with relegation, second division soccer club FC Schalke 04 addressed its grim current situation at its general meeting. During the emotional event, which lasted more than six hours, there were some harsh accusations, particularly directed at supervisory board chairman Axel Hefer and CEO Matthias Tillmann.

“I don’t know how you got your job. Mr. Tillmann, live up to your responsibility and resign,” said one of the many members who took the opportunity during the three-hour debate to criticize the club’s leadership. “No competence in the executive board and supervisory board” was the tenor of many speakers.

Hefer, as event manager, and Tillmann mostly commented in a factual and calm manner. “I understand the criticism and constantly question myself,” said Tillmann, who has only been in office since the beginning of the year and was brought to Schalke by Hefer, his former colleague on the board of the hotel comparison portal Trivago.

“We are in danger of sinking into mediocrity in the second division,” admitted 40-year-old Tillmann, but he also blamed the former sporting management in particular. The CEO made the sacked sporting director Marc Wilmots the scapegoat for the club’s current sporting situation, with the local club in 14th place and facing relegation to the third division. “Marc Wilmots was and remains a legend as a player. It didn’t work out in management,” Tillmann said.

16 million euros per year for debt repayment and interest

Hefer also admitted that Wilmots had been a mistake as sporting director. The Belgian former professional was dismissed in September after only nine months in office. “We are performing below what the budget should allow,” said Tillmann, sending a clear message to the absent team and coach Kees van Wonderen: “The next five games until the winter break are very important. The coach knows that, and the team knows that.”

The problem is that three of the five opponents are the top second division clubs Hamburger SV, SC Paderborn, and Fortuna Düsseldorf.

Chief Financial Officer Christina Rühl-Hamers told the 6,000 members in attendance that the club would be forced to plan for licensing for the third division. “The situation remains challenging, of course,” said Rühl-Hamers, who announced a reduction in liabilities. However, these still stand at €162 million. The club currently has to pay €16 million per year in repayments and interest. “That’s an average second division squad. In other words, we are currently paying for an extra squad,” complained Hefer.

In order to improve the situation, the aim is to raise €50 million in equity capital through a funding cooperative. “Then the world will look different at Schalke,” said Tilmann. Starting in January, the approximately 190,000 members will be able to purchase shares in the Veltins Arena for €250 each. The planned proceeds will primarily be used to pay off debts. There was little criticism of this approach.

Rühl-Hamers also announced plans to raise season ticket prices following the increase in day ticket prices for the coming season.