Schalke 04 have had an incredibly turbulent few years. Relegation, promotion, and relegation once again from the Bundesliga has added to the club’s already bleak financial situation.
Since their last relegation to the second tier in 2023, Schalke have finished in the bottom half of the table for two years running. Perhaps last season they were at their bleakest when relegation to the third tier looked possible, and should it have happened, S04 were uncertain they would even have the finances to obtain a 3. Liga license.
When Schalke’s Annual Report was released in October 2025, they’re was still cause for concern, but with a blend of quiet optimism that they were finally making steps in the right direction.
Whilst Schalke 04 are not quite out of the woods just yet, there was some good news. The club had steered away from potentially of not obtaining a license last season and going bankrupt just over four years ago.
In fact, the club has actually made a slight profit, whilst negative equity and debt levels are down. CFO Christina Rühl-Hamers would have been pleased to announce these figures in October; however, she did not stray from the core message of the report.
“Stabilisation course continued,” the club is “still in the intensive care unit, but things are getting better and better.”
One area that would improve the club’s situation drastically is TV revenue. Due to the club’s poor positioning in the 2. Bundesliga over the last few seasons, they’re getting less and less revenue through TV rights deals. With the start the club has made, this is expected to be better. However, there is one clear goal that would massively benefit Schalke – Promotion.
Promotion, you say?
Well, the sporting outlook has changed slightly this year and could prove to be a catalyst for not only a better financial future, but also one that brings Bundesliga football.
Currently top of the 2. Bundesliga at the time of writing, Schalke have gambled on a couple of signings to help get them over the line.
One of them is soon-to-be 40-year-old veteran striker Edin Džeko.
The Bosnian joins the 2.Bundesliga side on a short-term deal until the end of the season, and his contract will be performance-based, meaning goals and, most importantly, if Schalke get promoted. What’s more, there is no clause in the contract to extend it beyond the summer.
So the objective for their veteran striker, who will bring much bigger wages than they would have anticipated spending, is clear: get Schalke 04 over the line and back into the Bundesliga with all its TV Revenue riches and everything that comes with it.
Džeko made his debut last weekend at home to Kaiserlautern in the 80th minute with Schalke losing 0-2. With the table being so tight, just one defeat on the wrong matchday could put you on the back foot and chasing the leading pack.
Within four minutes of making his debut, what does Džeko do? Casually chest the ball inside the box, whilst fending off the defender, before half-turning and volleying the ball into the net.
If you haven’t seen the goal yet or wonder what aging like a fine wine looks like on a football pitch, please watch the goal wherever you can.
At the age of 39 years, ten months, and eight days, Dzeko is now the oldest ever goalscorer in 2.Bundesliga history. Previous record holder Helmut Haller was around three months younger than Dzeko when he scored for Augsburg against FSV Frankfurt in February 1979.
Schalke went on to score a 90th-minute equaliser and grab a draw from the jaws of defeat – all kick-started by the 40-year-old gamble.
With that, Schalke remain top of the table by two points. Whilst there is still plenty of football to be played, Džeko has had the perfect start the club could only have wished for.
The Bosinian will not only be a figure to look up to in the dressing room, but possibly more importantly on the pitch.
Given the club’s current finances, it’s totally understandable why they would have taken a financial risk. The ultimate prize, one which would have seemed inconceivable at the beginning of the season, is now within reach.
Should Džeko help Schalke to the Bundesliga and, possibly more importantly, help the club reach a more sustainable outcome, it could be up there with one of his biggest achievements to date.
GGFN | Jamie Allen
