Hoffenheim Owner Dietmar Hopp Admits Financial Situation Caused Luiz Gustavo Sale
Posted Wednesday, January 12, 2011 by Goal.com
Hoffenheim owner Dietmar Hopp has admitted that the club's financial situation forced him to part company with two of the club's star players in the past six months.
The Sinsheim side lost Brazilian playmaker Carlos Eduardo to Rubin Kazan during the summer transfer window, while Luiz Gustavo left the club for Bayern Munich in the January transfer window.
"Between 2007 and 2009, we made a loss of €65 million. In 2010 it was around €32m and we were able to reduce this to €16.6m thanks to the sale of Carlos Eduardo," Hopp told Rhein-Neckar-Zeitung.
"Even in 2011, we are going to have a shortfall of around €7m, and that despite the income from the sale of Gustavo."
Hopp blamed the club's former director of sport Jan Schindelmeiser for putting Hoffenheim in such a tricky situation.
"He negotiated lucrative deals with the players which almost ruined us. Our wage bill exploded. If we don't want to risk not being given a licence, it is a necessity to sell players like Luiz Gustavo."
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