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Aug 23, 2013

Dortmund announce record profits

Borussia Dortmund have announced a record profit of €53.3 million and a total turnover of €305 million for the 2012-13 season -- just eight years on from hitting rock bottom.

After revealing net earnings of €34.3 million last term, the 2013 Champions League finalists, who were on the verge of bankruptcy in 2005, reported a further rise of €19 million profit for the past fiscal year on Thursday.

“I don’t think there has ever been a profit as big as that,” Dortmund CEO Hans-Joachim Watzke said.

The only German club listed on the stock exchange also increased their turnover from €215.2 million to €305 million.

“Like in the past year, we were able to synchronise sporting and financial success,” Watzke said.

During the past fiscal year, Dortmund offloaded Ivan Perisic to Wolfsburg in the winter and Mario Gotze to Bayern Munich this summer -- a move which earned the club €37 million.

Dortmund finance executive Thomas Tress said: “The exceptionally good result is of course transfer driven. The money we earned in that sector has been reinvested without any delay in further improving the squad’s quality.”

Dortmund have also seen total employment costs at the club rise from €74.5 million to €99.8 million, with “roundabout €76 million to €77 million” of that spent on the team.

For the upcoming season, Dortmund calculate that spending €65 million to €67 million will earn them 70 points in the Bundesliga.

Should the club go further than the Champions League group stage and the last 16 in the DFB-Pokal, money spent on players’ wages will increase through bonuses.

Dortmund do currently have €56.6 million in liabilities but also some €80 million accounts receivable. Eight years after Borussia Dortmund were close to bankcruptcy, the club "basically is debt free" as Watzke said

He added: “Borussia Dortmund is well positioned for the future.”

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