Question:

Hamburg chairman concerned over monetary resources

by  |  earlier

0 LIKES UnLike


The Dinosaur chief executive officer conceded that the capture of Van der Vaart, Jiracek and Badelj have put the Bundesliga side in danger of a financial meltdown.
Hamburg CEO Carl-Edgar Jarchow suggested that the club is facing financial troubles after making high-profile signings in the summer transfer window and the side might be on the verge of bankruptcy due to a lack of funds. They
spent around £16.7million in the transfer window and displayed their positive ambition for the new season.
The German side bagged Rafael van der Vaart from Tottenham Hotspur, http://www.senore.com/Football-soccer/Milan-Badelj-c25769 from Dinamo Zagreb and Petr Jiracek from Wolfsburg in the off-season to help improve the club on sporting grounds. They finished a disappointing 15th
last season only five points safe of the relegation zone.
In the new campaign, they also lost their opening two league games and also got knocked out of the DFB-Pokal cup. Therefore, the club management decided to spend big to give the team a better chance of competing in the domestic
league, and captured the trio after another bad start.
Jarchow claimed that the finances spent will probably trouble them later and will cause problems in the near future. He said that the side is running on the edge and the future depends on their league standing at the end of the
year.
The club official stated that he gambled on getting the star players and a lot is at stake but confirmed it was a calculated risk.
"This (the extra money spent on players) is a burden for me. I cannot deal with it that easily,” Carl-Edgar Jarchow was quoted as saying in an interview.
The chief believed that they are lucky that their acquisitions will have a face value even after a few years and can be sold if a need arises.
"Fortunately these players are all of an age that means they will have certain value in the future,” the German politician added.
"But I definitely fear that this will see us operating in the red. No doubt,” he finally concluded.
Finally, the chairman conceded that he is afraid that their huge spending will hit them hard and they will have to work under strict budgets in the meantime.

 Tags:

   Report
SIMILAR QUESTIONS
CAN YOU ANSWER?

Question Stats

Latest activity: earlier.
This question has 0 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.