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Werder Bremen has launched bonds for medium-sized companies that private individuals can also purchase from May. For the club it is the last way out of debt.
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Image: Imago | North photo
Werder Bremen has pulled its last joker out of its sleeve to cushion the Bundesliga club’s financially precarious situation. As the Internet portal “Deichstube” reports, Werder has brought medium-sized bonds onto the market, which are aimed, among other things, at credit institutions and insurance companies.
Werder’s Finance Director, Klaus Filbry, had already confirmed in February that the club was dealing with such financial models. Or rather: you have to deal with it. Because the association has now exhausted all other means to counteract the debt caused by the corona pandemic.
Loans are exhausted
Werder had already taken out a loan of 20 million euros at the end of 2020 with the help of a Bremen state guarantee. The club will not receive any further loans. However, Filbry estimates the shortfall in income in the period from the beginning of the corona pandemic a year ago to the end of the season at 40 million euros.
The past season brought the club a record minus of 23.71 million euros, sales also collapsed and equity is in the double-digit million minus. On the transfer market, too, prices plummeted.
The first drawing phase brought Werder 10 million euros
So now SME bonds to wash fresh money into the empty club coffers. In the first subscription phase, which ended last Monday, more than ten million euros were already generated. Werder is satisfied. A drawing size of at least 100,000 euros was required by law during this period. The bond allows a total of up to 30 million euros, Werder is aiming for a deposit amount of around 20 million euros.
We don’t beg for money, we make an interesting offer.
Werder Chief Financial Officer Klaus Filbry
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–The term of the bond is five years and three months, and the interest rate is at least six percent. Drawing sizes from 1,000 euros will be available from mid-May. This means that private investors who have a securities account can also get on board.
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