Breaking News —

Berlin, Jun 30 . .- Schalke 04 will receive a state guarantee from the federal state of North Rhine-Westphalia to face the financial situation that was difficult since 2019 and that has worsened as a result of the coronavirus crisis, according to German media.

According to the Handelsblatt economic newspaper in Düsseldorf, the regional government plans to grant a guarantee worth 40 million euros, which should be announced on Wednesday.

However, the Prime Minister of North Rhine-Westphalia, Armin Laschet, denied today that there was already a decision on the matter.

State guarantees for sports clubs are not a strange thing, according to Laschet, but every application must be carefully examined and in this case there will be, he said, “a Schalke law.”

Schalke, who finished the season in box 12 of the Bundesliga, closed the year 2019 with debts amounting to 197 million euros.

The loss of income due to the pandemic worsened the economic situation as well as not having qualified for the European competitions.

For this reason, according to the Munich newspaper “Süddeutsche Zeitung”, the club plans to introduce a salary cap for players of 2.5 million euros per year.

In April one of the board members, Alexander Jobst, said Schalke was in a situation that was a threat to his existence.

According to the magazine “Kicker”, the possibility of once again requesting a credit was discussed by businessman Clemens Tönnies, who has been chairman of the supervisory board and is currently a highly controversial figure.

Tönnies owns slaughterhouses and meat-processing factories in which coronavirus outbreaks have occurred, which has brought to light the deplorable conditions in which many workers from Eastern Europe live.

Some Schalke supporters have declared themselves in rebellion against Tönnies and have asked him to resign from the positions he has within the club.