A parking garage, rental apartments
Big money worries: DFB sells several buildings
April 19, 2024, 6:26 p.m
The German Football Association is suffering from severe financial worries – that is well known. The Executive Board therefore decides to sell several buildings in Frankfurt am Main. This also includes rental apartments.
A parking garage, rental apartments and also the old central administration: The German Football Association (DFB) is planning to sell several buildings in view of its financial difficulties. The old administration in the Otto-Fleck-Schneise in Frankfurt am Main will also be sold, where EURO 2024 GmbH is currently based. The sale of the properties is now being prepared, the DFB executive board announced. The parking garage in the Otto-Fleck-Schneise as well as “the old DFB central administration in Zeppelinallee and the studio building there as well as rental apartments in Frankfurt Bockenheim” are also to be sold.
The income should give the association the opportunity to “release liquid funds to repay the loan for the DFB campus,” said DFB treasurer Stephan Grunwald. The sale is the “next logical step” in the context of budget consolidation, but overall “the reduction of the structural deficit” has been “successfully achieved”.
Serious money problems
The DFB recently reported a loss of 4.2 million euros after taxes for 2022, which resulted primarily from the sporting crisis of the men’s team as well as the construction costs and ongoing expenses for the DFB campus. The new campus, which opened in 2022, was significantly more expensive than planned.
However, this is not the only decision that the association has announced: the DFB is also putting its statutes and regulations to the test. A specially founded commission will in future analyze the constitution of the association “organizationally and structurally” and develop proposals for changes. DFB Vice President Peter Frymuth will head the eight-member commission, which also includes DFL managing director Marc Lenz.
The establishment implements a resolution of the 44th ordinary DFB Bundestag on March 11, 2022. Suggestions for changes could also affect the “DFB bodies, the DFB central administration and the DFB subsidiaries,” the DFB said.