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German football federation made near 20m euros profit in 2019

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German football federation made near 20m euros profit in 2019


The German football federation (DFB) on Friday in Frankfurt said it made a post-tax profit of 19.5 million euros (21.9 million dollars) in 2019.

There was income of 405.2 million euros in the previous year with expenses of 385.7 million euros.

“That gives an extremely pleasing result, although 2019 wasn’t an event year,” said DFB treasurer Stephan Osnabruegge. “The DFB is economically healthy.”

The positive balance has increased the DFB’s cash reserves to 169.6 million euros.

But, following the coronavirus crisis, a 16-million-euro loss is expected in this year.

“Extreme thrift is the order of the day,” said Osnabruegge.

OLAL

(

Edited By: Olawale Alabi) (NAN)

Olawale Alabi: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

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