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Schalke investigation over stadium sale dropped

Schalke investigation over stadium sale dropped

The investigation into whether Schalke possibly committed accounting fraud after buying its old stadium for one euro was dropped Wednesday.
The district attorney's office also dropped its investigation into whether Gelsenkirchen _ the city where Schalke plays _ had acted against the public interest by selling Parkstadion that cheaply in 2003.
The office didn't say why the investigation was dropped.
Schalke, rumored last year to be near bankruptcy after building an expensive stadium, was accused of hiding its financial crisis by listing Parkstadion as worth an inflated euro15.6 million (US$19.7 million).
But there has been no evidence since that it had been in financial trouble. In October, Schalke signed one of the most lucrative sponsorship deals in Bundesliga history with Russian oil giant Gazprom.
Gelsenkirchen city officials said Parkstadion was sold cheaply because it was too expensive to maintain.


Updated : 2021-08-05 01:58 GMT+08:00