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Two Schalke officials fined over stadium deal

Two Schalke officials fined over stadium deal

Two Schalke officials were fined a total of euro60,000 (US$78,000) on Thursday for allegedly misrepresenting the Bundesliga club's finances following the purchase of its old stadium.
The Essen district attorney's office agreed to drop an investigation, which included a probe for possible tax evasion, in return for the penalties against former general manager Rudi Assauer _ who was fined euro35,000 (US$47,000) _ and Schalke business manager Peter Peters.
After building a new stadium, Schalke bought the land holding its old stadium _ Parkstadion _ from Gelsenkirchen's city hall for only one euro (US$1.32) in 2003. The following year the old stadium was listed on its books as worth euro15.6 million (US$20.2 million).
"There is adequate suspicion that a false picture of the club's financial balances was given," the district attorney's office said in a statement.
The office said it dropped the tax evasion investigation against Schalke for lack of evidence.
On Wednesday, district attorneys ended an investigation against two Gelsenkirchen officials suspected of violating the public interest by selling Parkstadion so cheaply. The city maintained the maintenance on the property was too costly.
Schalke is second in the Bundesliga, behind first-place Werder Bremen on goal difference.


Updated : 2021-02-25 10:59 GMT+08:00