PSV reports profit and pursues stadium expansion

Dutch football champions PSV generated a net profit of nearly €7 million last season while pursuing a major expansion of Philips Stadion.

Financial highlights:

• Club equity reached a record €55 million, though total turnover dropped due to weaker results in the Champions League.
• Total operating expenses reached €157 million, while commercial turnover climbed to €46 million and ticket revenue generated €25 million across 26 matches.

Stadium plans:

PSV aims to increase capacity from 35,000 to at least 52,000 seats by adding a third tier. General director Marcel Brands stated that the chance of building works starting next year is now above 50 percent.

Driving the news:

Brands cited a massive waiting list for season tickets and regional growth as key reasons why inaction is not an option. The club intends to continue hosting matches at the venue while renovations take place.

What is next:

Gemeente Eindhoven (Eindhoven municipality) will process a permit application for an expansion of 25,000 seats at the end of this month.

Source: 1, 2