Dortmund spell out financial fallout from pandemic
Borussia Dortmund, one of Germany’s top soccer clubs, are forecasting gross operating profit of €62 million ($69.5 million) for the financial year with revenue significantly impacted by the coronavirus pandemic.
The announced projected figure for earnings before interest, taxation, depreciation and amortisation comes after the Ruhr outfit conceded that there would be a consolidated net loss of €45 million in 2019-20. This compares with a surplus of €17.4 million in the previous year.
While the German Bundesliga was able to resume and complete its most recent season (the final matches took place last weekend), this was done so without spectators in stadiums.
Dortmund therefore missed out on significant matchday income at their 81,365-capacity Signal Iduna Park home, with advertising and VIP hospitality also heavily impacted.
In a statement, the club said “compensation has been paid to sponsors and holders of hospitality zones, and it is also relevant that the transfer market has stopped completely in the last quarter” of the fiscal year.
However, Dortmund said it was “well equipped to bear these losses” given positive financial results in the years leading up to the pandemic.
A second-place finish in the Bundesliga guarantees that the club will be in the Uefa Champions League for a ninth successive year in 2020-21.