Football job gone
Bank terminates Effenberg – he goes to court
Status: 29.02.2024 | Reading time: 2 minutes
Stefan Effenberg has worked for VR-Bank Bad Salzungen Schmalkalden since 2018
Source: dpa/Rolf Vennenbernd
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According to “Handelsblatt”, Stefan Effenberg is losing one of his jobs. The ex-national player had been a bank employee for five years. Now he received notice of termination. But he obviously doesn’t want to accept this.
Bad news for Stefan Effenberg: The 55-year-old is losing his job. VR-Bank Bad Salzungen Schmalkalden has given the former Bundesliga professional and national player a notice of termination as of April 1, 2024. This is reported by the “Handelsblatt” according to information from circles close to the bank.
The bank signed Effenberg at the end of 2018. The prominent addition was by no means just an advertising face or ambassador, but an employee in the credit department.
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At the time, a spokesman explained: “Mr. Effenberg will be a regular employee of our bank, which means, for example, that he will receive a completely normal contract and will be listed in our organizational chart as normal.” The ex-professional will support the “Corporate Customer Competence Team Football ” work.
Nickname “Effenberg Bank”
The bank had apparently granted more loans to professional clubs, and Effenberg was supposed to act as a consultant to assess the opportunities and risks of the deals. Since then it has also been nicknamed the “Effenberg Bank”.
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After a little more than five years, Effenberg has now received notice of termination from the Thuringia-based credit institution. Apparently the long-time player for FC Bayern and Borussia Mönchengladbach is no longer needed. The cooperative bank from Thuringia would like to withdraw from the football business.
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A spokesman for VR Bank said that they could not comment on the personal impact of the withdrawal from the football business for reasons of privacy. However, it is “correct that the exit from the football business has been decided”.
Financial institution apparently financially troubled
According to the report, Effenberg is defending himself against his expulsion with a dismissal protection lawsuit. This lies with the Suhl Labor Court, the first day of the hearing is scheduled for March 6th.
In general, things seem to be going badly for the financial institution. To date, there are no audited annual financial statements for 2022. It can be assumed that “there is a loss that is not covered by half of the total amount of the business balances and reserves,” explained the Volksbank-Raiffeisenbank in a mandatory announcement. It’s a three-digit million sum, writes the “Handelsblatt”.