FC Luzern record a loss of 1.75 million francs and fare with a black eye despite the crown crisis

After FC Luzern posted a profit of 234,000 francs last year, it ended the 2019/20 financial year with a loss of 1.75 million francs. FCL CFO Richard Furrer: “Given the circumstances, this is a good result.” If it hadn’t been for the Covid 19 crisis, he is convinced: “If we had achieved an equally good result last year”.

FC Lucerne are having a difficult time: in the financial year 2019/20, numerous spectators will be absent from the stadium due to the measures of the crown.

Image: Jakob Ineichen (Lucerne, 6 November 2019)

The operating result is still encouraging. “Without distortions due to taxes, interest and depreciation, the operating result is almost balanced at minus CHF 15,000”. The number is proof that the FCL has done well even in the difficult reporting year and managed its finances economically

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The Central Swiss Super League club was unexpectedly hit on March 16. On that date the block came into effect. “On the same day, the management of the FC Luzern group started a crisis team,” says Richard Furrer. Employees immediately reduce overtime. Other measures included applying for short-time work and immediate hiring and freezing of investments. From now on it was about the survival of the FCL. “Thanks to meticulous and professional crisis management, we knew exactly how we were doing financially at all times and almost to the franc,” says Furrer. This high level of transparency was one of the deciding factors “we got the curve”.

Broad support prevents the worst case scenario

After an initial assessment of the situation in mid-March, Richard Furrer had foreseen a loss of around 10 million francs. This worst-case scenario did not happen only for the effective measures, “but also thanks to the enormous solidarity we have been able to experience. A big thank you goes to Stadion Luzern AG, who not only granted us the rent for a full year of 400,000 francs. In addition, it has provided us with great financial support, “says the CFO. The FCL also received support from the city, the canton and other offices and authorities.

All the employees of the FCL have given up part of their salary. Otto’s, Luzerner Kantonalbank and Maréchaux have extended their long-term contracts. Fans soon bought their subscription cards for the new season. Spontaneous helpers have supported the club with small and large contributions.

The youth sector was spared from the austerity measures

Richard Furrer points out: “There were no cuts in juniors. Young people remain the heart of our club. “With good reason: above all thanks to the sales of our local Jonas Omlin and Ruben Vargas, the FCL has been in the black in the previous two years and in the last financial year the operating result is relative despite the Crown for the transfer of 19-year-old young professional Darian Males to Inter went well.

CFO FCL Richard Furrer.

Image: PD

According to CFO Richard Furrer, the krona crisis cost the FCL around 1.5 million francs. Thanks to the short-term work and the solidarity mentioned, 1.4 million francs could be saved, he explains. In addition, the FCL has taken out an SME loan of CHF 1 million from the Cantonal Bank of Lucerne. With this and thanks to a loan of 4.5 million Swiss francs subordinated to the shareholders, the liquidity of the association is guaranteed to date.

Empty stadium at home games: “Sad, dreary, a horror!”

The unpleasant theme C will accompany the association also in the new financial year 2020/21. Furrer takes a photo from football: “We survived the first half – but the match will be decided in the second half, perhaps even in injury time or on penalties”. He is convinced that he will win the game along with employees, fans, friends and partners. Richard Furrer finds the empty stadium “sad, dreary, a horror”! One thing is clear: FCL can continue to exist under these conditions only with outside help.

Note: The annual report of the FC LUZERN Group can be downloaded from the FCL website www.fcl.ch. If you want a printed copy, you can get it from the FCL fan shop during the published opening hours.