Leipzig debts, turnover grew after Bundesliga promotion
LEIPZIG, Germany (AP) Leipzig’s reliance on backer Red Bull increased with Bundesliga promotion according to financial figures released for 2016.
The club owed the energy drinks manufacturer about 52.4 million euros ($64.1 million) at the end of 2015, and that grew by more than 30 million to 83.2 million euros by the end of the following year.
Leipzig secured promotion from the second division in 2016 and went on to boost the team with the signings of coach Ralph Hasenhuettl from Ingolstadt, Timo Werner from Stuttgart, Oliver Burke from Nottingham Forest, and Naby Keita, Bernardo and Benno Schmitz from sister club RB Salzburg. The club also secured a loan deal for Kyriakos Papadopoulos from Bayer Leverkusen, while Lukas Klostermann’s and Diego Demme’s contracts were extended.
Wages increased from 32.7 million euros to 53.7 million. Turnover increased to 118.6 million euros from 79.5 million the previous year.
The figures were initially reported by the Saechsische Zeitung and Mitteldeutsche Zeitung newspapers.
Leipzig finished second in its first Bundesliga season. The team is currently third with 13 rounds of the league remaining.