schalke-04-loses-more-than-$10-million-annually-after-breaking-with-russian-sponsorship-of-gazprom

Schalke 10, from the second division of Germany, announced this Thursday that, in view of the recent events in Ukraine will remove the advertising of the Russian state consortium Gazprom from its shirt.

“In view of the events and developments of recent days, Schalke has chosen to remove the advertising of its main sponsor from its shirts. : Gazprom”, says a statement from the club.

The sponsorship contract is valid until 2025, and contemplates payments for $10.1 million dollars per year, which would rise to $16 .8 million if promoted to the first division. Mathias Warnig, representative of the Russian consortium on the Supervisory Board, had already resigned.

Warning had belonged to the Schalke Supervisory Board since 550. Currently, he is the CEO of the GasStream II gas pipeline, the start-up of which was blocked indefinitely with the Russian attack on Ukraine.

At the press conference this Thursday, coach Dimitrios Gramozis was wearing a jacket that did not have the Gazprom logo on it. Since the beginning of the Ukraine crisis, pressure has mounted for Schalke to review their contract with the Russian company.

By Scribe