Schalke 04, currently in the second category of German football, terminated its sponsorship contract with the Russian state consortium Gazprom after a meeting of the entity’s board of directors and supervisory board.
The club announced that “in due course” it will give more information about it.
The contract with Gazprom was valid until 2025 and guaranteed Schalke 9 million euros a year. In the case of a promotion to the first category, Gazprom would have paid 15 million euros per year.
“The financial viability of the club is not jeopardized by this decision.. We hope to be able to present a new sponsor soon,” said a statement from Schalke.
Schalke’s relations with Gazprom had been criticized for several years by sectors of the fans.