What Happened to Schalke 04?

A giant of German football has fallen. Anyone who has followed the German league knows Schalke 04 aren't just part of the Bundesliga’s furniture, but are one of German football’s most decorated clubs. They’ve won the Bundesliga 7 times, the German Cup 5 times and have a respected history in the Champions League. Schalke finished second in the Bundesliga as recently as 2018 but fast forward a few years later, they are fighting relegation from the second tier of German football. It has been a turbulent few years at the club and there are even suggestions that a relegation to the third tier could result in liquidation for the club. So how has one of Germany’s biggest clubs fallen so far in such a short time?