The headcoach is fired. They spent 55 years in Bundesliga before being relegated last year. https://www.besoccer.com/new/hamburg...omotion-635623
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very sad. they will be back. They are a great club and will find a way back to the topIRI = FAILED -
Former Bundesliga club Hamburg leave everyone at a loss
Until a year ago, Hamburg were the only club never to have been relegated from the Bundesliga. Their failure to win promotion on first attempt has left fans and former stars like Felix Magath shaking their heads.
A day later and the disappointment is still palpable even amongst those who have, at the very least, geographically distanced themselves from Hamburger SV. After failing to bounce back from their first-ever Bundesliga relegation by securing an immediate return, the emotions remain raw.
"As a former player and head coach, I'm naturally disappointed, but that's not what it's about," Felix Magath told DW. During his 10-year spell with HSV in his playing days, Magath won three Bundesliga titles and two European titles. A two-year spell as team manager that began almost as soon as his active career ended in 1986, saw HSV win the DFB Cup for a third time.
The 65-year-old, who has since moved to Munich, is struggling to understand how "a club that has so many more resources at their disposal compared to other teams, failed to secure promotion back into the Bundesliga and instead allowed Paderborn to pass them."
Magath didn't want to elaborate so soon after Hamburg's fate had been sealed following Sunday's 4-1 loss to Paderborn, but did pose the question: "Who will accept responsibility for the disaster?"
Higher interest rates?
Hamburg have hit a new low that those connected with the club from Felix Magath and the fans to the club's hierarchy could hardly have fathomed before the start of the season. In addition to the sporting low lights, the club are also having to cope with a large mountain of debt.
Currently at a reported €85 million ($95 million), the liabilities pile up with a turnover of close to €133 million. The annual loss of €20 million that was announced by the club only further obscures the balance sheet.
A major question now is how will the financial institutions, who have given HSV a long line of credit, will handle the situation.
"Will the banks stay quiet?" wondered Hamburg professor and sports economist Wolfgang Maennig.
Hamburg's inability to bounce straight back into the top tier will see their income from television rights drop even farther next season. As a result, the conditions now are different to when the contract for credit was signed.
"Banks usually respond to situations like this by imposing a risk premium which would increase the interest burden on the club," Maennig said.
An open wound
This season's budget of €28.5 million will also likely take a hit ahead of next season, while the squad will certainly undergo wholesale changes.
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