Positive result sees Schalke meet equity capital rule

Revenue rose to €95 million. In the 2024 calendar year, the Royal Blues successfully improved the club’s consolidated equity capital as required as of 31st December 2024, by the necessary five percent to -€98.1 million (previous year: -€103.3 million). This means all projected developments were achieved.

“It’s exactly what we were aiming for,” said Christina Rühl-Hamers, board member for finance. “Fulfilling the net equity capital rule and thereby avoiding a points deduction in the 2025/26 season was a major challenge for Schalke 04, but we did it – thanks in part to an exceptional concert year at the VELTINS-Arena and remarkable transfer revenues for a 2. Bundesliga club.”

On behalf of the board, Rühl-Hamers also explained that meeting this requirement in 2025 and beyond will not be straightforward, due to familiar reasons: “In 2024, we had to spend around €16 million on interest and repayments. At the same time, we were required to achieve a surplus during this period to improve our consolidated equity capital by more than €5 million.” These figures alone highlight the significant balancing act Schalke must manage. “Our top priority is, as always, to allocate a competitive budget for the team to increase the likelihood of a sustainable return to the Bundesliga. At the same time, we must meet our contractual debt obligations and improve equity capital. This threefold approach must work at all times,” explained Rühl-Hamers. In the current season, the budget for the squad and staff exceeds €20 million.

Since 2022, when the club’s negative equity capital stood at nearly €110 million, Schalke have improved this figure by around €12 million. “At the risk of repeating myself: this is a marathon and not a sprint. We can only improve the negative equity capital through positive results. We’ve managed to do that in recent years,” said Rühl-Hamers. With the new Auf Schalke eG cooperative society launched in early 2025, the club has taken a new approach to supporting long-term financial stability.

The road ahead won’t be easy, the 48-year-old emphasised. Although revenue over the first half of the season reached €95 million (previous year: €86.6 million), this increase was largely due to one-off events, including Taylor Swift and Rammstein concerts, as well as Shakhtar Donetsk’s Champions League matches, which all provided a significant boost. Meanwhile, revenue from sponsorships, media rights and merchandising declined. Revenue from transfer fees also fell by around €4.5 million compared to the previous year.

“The figures impressively demonstrate the enduring strength of Schalke 04 and the VELTINS-Arena – and their importance to the city of Gelsenkirchen and the surrounding region. At the same time, it’s clear that the challenges are not getting any smaller: revenue is not guaranteed – TV money will decrease again due to our sporting performance and annual transfer profits in the double-digit million range cannot be planned. Meanwhile, liabilities such as the so-called ‘corona loan’ must still be repaid. Schalke 04 must therefore continue working hard to maintain and further expand the financial stability we’ve achieved in recent years,” said Rühl-Hamers.

Overall, the board remain optimistic about the club’s future. For the 2024/25 financial year, a profit in the low to mid-single-digit million-euro range is projected. Rühl-Hamers concluded: “Our ultimate goal remains a permanent return to the Bundesliga – that’s what everyone is working towards. I am firmly convinced that we will achieve promotion in a sustainable manner in the medium term.”