Corona crisis: 1. FC Köln receives state guarantee

1. FC Köln also receives a guarantee from the state of North Rhine-Westphalia and thus secures itself economically in the midst of the corona crisis. The club takes out a loan of 20 million euros with a term of six years from its house bank Sparkasse KölnBonn, this is secured by the state guarantee.

Like many other areas of society, professional football has been suffering from the cuts caused by the pandemic since March 2020, and FC, for example, has complained about a loss of income of almost 65 million euros. Schalke 04 and Werder Bremen had already made use of the possibility of a state guarantee, VfB Stuttgart is taking a similar path with a KfW loan.

“We are doing all we can to counter the effects of the pandemic,” said Cologne’s managing director Alexander Wehrle: “We have initially countered the effects of the crisis with our own measures. With a view to the imponderables of the next season, we are only now consciously in favor of decided on such a loan. “

In addition to the guarantee, the club “brings in additional security of its own. We are aware of the additional responsibility that comes with the guarantee and will of course repay the loan in full.”

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