Schalke post record turnover in 2007

German Bundesliga club Schalke 04 posted Friday record turnover of 149.5 million euros (231 million dollars) in the 2007 business year.

The Gelsenkirchen-based club, which survived the group phase of this season's Champions League for the first time, recorded a profit of 12.8 million euros.

The club, one of the best supported in Europe with an average home gate of above 60,000, has managed to reduce its debts from 129.5 million euros to 102.2 million euros.

The club also enjoys a major sponsorship deal with Russia's Gazprom, the world's largest producer of natural gas, reportedly worth some 125 million euros over five-and-a-half years to the end of June, 2012.

Schalke's 2007 turnover beats the previous best mark of 131.8 million euros in 2005.

Josef Schnusenberg, Schalke's chairman and finance director, said success on the field last year had helped the club reduce debts at a faster rate.

"The 2007 business year shows that the path we have taken in the past has been the right one," he said.

"The investments we made almost at the same time in the team, the Veltins Arena (completed in 2001) and infrastructure has, of course, been a great effort, but it is proving increasingly to be worth it."

Schalke, who have been German champions seven times, have still never won the Bundesliga title since the professional league's launch in 1963.

They were runners-up twice in the past three seasons and are currently lying third in the table and are assured of a place in either the Champions League group or qualifying stage next season.

Sapa-dpa