Most profitable year ever at Feyenoord Rotterdam football club
Rotterdam top-level football club Feyenoord netted a team-record 13.6 million euros profit from its 61.8 million recorded earnings for the 2014/2015 season. This revenue amount is also the most in club's 106-year history. It is an impressive turnaround for a team whose crippling debt issues hindered its performance from about 2008 to 2010. Executive director at Feyenoord football, Eric Gudde, attributes the clubs phenomenal earnings to strict budgetary discipline, good business in the transfer market and the results of European winter play. Revenue saw an increase of 29 percent over the 47.8 million earned last year, with an over five million euro increase in profit. The club's equity shifted from a two-year negative into an excess of 15 million euros. The increase in the revenue stream was aided by the clubs simultaneous decisions to move to sports apparel sponsor Adidas, while the sale of merchandise was taken over completely in-house. Revenue was further bolstered by the 19 million received from players sold during the summer which has also allowed, for the third consecutive year, the ability to increase its players’ budget, the team said in a statement. The club expects less-impressive revenue and profit for the 2015/2016 season as Feyenoord will miss out on playing football in Europe this season, but the club is positive that it is increasing its likelihood European football next season.