Bundesliga teams are some of the least financially transparent in Europe: "German clubs are really a black box in terms of transparency"

18 May 2021

Photo: Alamy Borussia Monchengladbach and Bayer Leverkusen are two of the many clubs in the Bundesliga not publishing their financial report on their website. At Monchengladbach they claim that "Germans clubs are more transparent than [clubs] in any other country."

German football is on the forefront of pushing for financial sustainability but when looking at financial transparency they are decades behind other big European leagues.

Only four Bundesliga clubs publish their financial reports on their websites. The rest point to the DFL's annual financial overview with only a few selected key figures.

UEFA's club licensing regulations require clubs to publish their last audited financial information.

Neither UEFA nor the DFL are willing to answer questions on the lack of disclosure, criticised by accounting and auditing professor.

Emil Gjerding Nielson nielson@offthepitch.com

Financial sustainability and a sensible balance have been pushed to the top of the agenda in the European football community after the pandemic all but pulled the rug out from under the industry.

One of the clearest advocates for a new approach is the German Football League (DFL), who often champions itself on transparency and accountability through its 50+1 ownership model. 

Do you want to read this article?

Get instant access by signing up for a 7-day free trial

No credit card, no commitments and it will expire automatically.

You will receive a link that activates your trial in an email.