Austria's finance boss

Zagiczek: “This is a booster for the sale!”

Austrias Chief Financial Officer Harald Zagiczek

(Bild: GEPA)

Vienna Austria is hoping that the first match permit granted in the first instance since 2020 for the upcoming Bundesliga season will also improve its chances of selling its stadium by the summer. This seems essential for the financial recovery of the soccer club. "The interested parties see that Austria is alive. That is of course a booster for the sale," said Austria's CFO Harald Zagiczek on Sky on Saturday.

The loans taken out for the renovation of the Generali-Arena from 2016 to 2018 continue to weigh heavily on Austria's finances. The Viennese are planning to counteract this by selling their stadium as part of a sale-and-lease-back option. "The proceeds will enable us to repay a good portion of the liabilities, which will mean that interest expenses - a key driver in the income statement - and depreciation will be taken off the balance sheet," explained Zagiczek.

Kurt Gollowitzer

(Bild: GEPA pictures)

Gollowitzer in the Kronen Zeitung
According to Zagiczek, the company is talking to several interested parties. "We are thinking in all directions." However, a municipal company or even the City of Vienna would not take over the Generali-Arena, emphasized Austria President Kurt Gollowitzer in the "Kronen Zeitung" (Saturday edition). "The talks are well advanced," said the club boss.

According to Zagiczek, interested parties would notice that the Bundesliga also believes in the club after the license was granted. "You can see that Austria has a positive outlook." Receiving the match license in the first instance is a good first step. "It's an important step, nothing more. There are still many more to come." For the Chief Financial Officer, who has been in office for six months, one thing is clear: "We have an issue with the property. That's the next step we're taking."

Last season, Austria posted a loss of 6.85 million euros, not least due to the stadium repayments. "Liabilities and losses are never good," said Zagiczek. But you have to analyze how they are made up. "We know how to turn the right screws. We have a path, a plan - and we will pursue it consistently."