Are the football bonds worth it?

Counter-question: Are toothbrushes from Schalke 04 worthwhile?

The category is the same.

These are fan products that support the association financially.

So if you want to help your club and already have enough cups, scarves and living room curtains in your club colors, you can put a loan in the depot for a change.

But he should be aware that he may not see the money again.

Daniel Mohr

Editor in the economy of the Frankfurter Allgemeine Sonntagszeitung.

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    Current example: Werder Bremen. The association overwrites the press release on its bond with the words “Start of the controlled offensive”. This alludes to the success times under Otto Rehhagel, who helped this game concept to fame and Werder Bremen to two championships. Rehhagel is now 82 years old and the last championship under him was 28 years ago. "Werder Bremen is one of the most successful clubs in Bundesliga history," the club recruits for donors. Emphasis on "history". The reality is different. Werder has just been relegated to the second division. The interest rate on the bond, which can be subscribed until June 1 and which is supposed to flush up to 30 million euros into empty Werder coffers, is 6 to 7.5 percent. Every debtor who is reasonably solvent has to pay less at his bank.

    Schalke also wants to issue a new bond to pay off the debts of an old bond. The interest that the bottom of the table wants to pay is 5.75 percent. In view of the record high debt of the relegated, an almost low figure. The redeemed bond had an interest rate of 4.25 percent. Werder and Schalke want to borrow the money for five years. There is no professional credit rating from a rating agency for Werder Bremen. FC Schalke 04 was rated by Creditreform at the end of March with a B rating with a negative outlook and thus in the area of ​​bonds with a "higher risk of default".

    The history of football bonds is not very glorious.

    Some could not be repaid, sometimes the clubs asked for a deferral or waiver of interest.

    It's almost always a tremendous match.

    Unfortunately, the money often ends up in a bottomless pit.

    Everyone who wants to support their club should know that.

    1000 euros is the minimum amount for the bonds.

    The toothbrush would be the cheaper solution.

    Do you have any questions about money?

    Please contact Daniel Mohr at fragdenmohr@faz.de