Schalke are not in the best financial position at the moment with debts reported to be in the region of 230 million Euros. The banking system at the moment is not exactly as stable or as profitable as it once was which was increasing the pressure on the Bundesliga club. However a contract renewal with the shirt sponsors Gazprom will see their financial worries partially lightened.

The Schalke shirts currently carry the Gazprom logo, and with their previous deal this was to carry on till 2010, however the new deal will extend this by 5 years to 2017 netting Schalke 100 millions Euros. The amount could rise further to as much as 130 million Euros depending on their success in the league and Europe.

Clemens Toennies, the Chairman of Schalke’s advisory board, commented:

“We have closed the deal for the next five years. It will improve conditions for us and I explained that on my last trip to Moscow, because this deal will help stabilise the club.”