Newcastle United’s €90m deal for Nick Woltemade is not quite the financial coup that it would appear for VfB Stuttgart.
That’s [at least according to Schwabische](https://www.schwaebische.de/sport/vfb-stuttgart-bekommt-millionen-fuer-woltemade-und-was-macht-das-finanzamt-3908623), who cover the move and explain why the German club won’t see that much profit despite the huge sale price they secured from Newcastle.
They say that while Woltemade’s move to St James Park was the ‘transfer coup of the summer’, Stuttgart won’t quite be ‘swimming in money’.
Fans certainly rubbed their hands at the price their club secured, particularly as it added to money secured elsewhere for the club. They brought in €40m from selling shares owned by Porsche while they also have revenue from the Champions League in 2024 and a cup triumph.
CEO Alexander Wehrle was already publicly commenting about a solid position this week, helped by Woltemade’s sale to Newcastle, with record revenue and a healthy profit of €15.4m.
But there are also costs and while Woltemade’s fee was a ‘warm rain’ that has already been used to help cover COVID debts, as Wehrle explained this week.
That cost them up to €90m in sales, so Woltemade’s move has certainly helped to fill a hole. Some of the money has also already been spent on new arrivals this summer, worth around €40m.
The German tax office will also take their cut. German VAT won’t be applied as Woltemade has moved abroad. There will be taxes around the commission paid to Woltemade’s agent, who works in Germany.
There is also corporate tax, trade tax and a solidarity surcharge to be paid as well, ensuring Stuttgart may not see as much of that €90m sum as they would probably have liked.