Dortmund reached the UCL final last season, compared to a round-of-16 exit in the prior year.(Jürgen Fromme – firo sportphoto/Getty Images)

German soccer giants Borussia Dortmund generated a 22% increase in revenue for the 2023-24 season, thanks to their run to the final of Europe’s elite UEFA Champions League (UCL) club competition.

For the period from July 1, 2023, to June 30, 2024, the Bundesliga side brought in €510 million ($560.4 million), which represented an increase of almost €91 million from the previous year.

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This resulted in the club posting a profit of €44.3 million for the financial year, up €34.8 million from €9.5 million in 2022-23.

The increase in revenue was recorded across all income streams, but in particular from TV rights fees due to the team’s successful UCL season where they were beaten 2-0 in the final by serial Spanish winners Real Madrid.  

Dortmund received €206.1 million from broadcasting revenue, up 31% from €157.5 million in the prior year.

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Income from domestic TV rights came to €84.4 million, up €4.5 million. Revenue from the UCL season was €120.1 million, a significant increase from €74.5 million in 2022-23.

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Dortmund reached the UCL final last season, compared to a round-of-16 exit in 2022-23.

However, a round of 16 loss in the domestic DFB-Pokal saw the club’s TV income decline from €3.1 million to €1.5 million in that cup competition.

Commercial revenue was up slightly to €146.6 million from €142.3 million, meanwhile.

This came primarily from the club’s main partners – shirt sponsors Evonik and 1&1, kit supplier Puma, and stadium naming rights partner Signal Iduna.

The commercial figure was also contributed by GLS and nine other ‘champion partners’.

Over the last year, Dortmund have partnered with Coinbase, Tenways and StarGames, as well as a controversial tie-up with arms manufacturer Rheinmetall.

During the reporting period, Dortmund also extended their marketing partnership with international agency Sportfive until June 2031.

The Bundesliga side opened its first office in the US in March and is seeking to more than double its sponsorship revenue in that market.

Dortmund’s matchday income increased as well, to €52.6 million from €43.5 million.

Revenue from merchandising rose by 43% to €47.9 million, while income from events and conferences were €56 million.

Dortmund will be naming a new chief executive next year after the long-serving Hans-Joachim Watzke announced he will be stepping down from the role in 2025.

The Dortmund chief guided the Bundesliga club through a difficult financial period caused by the Covid-19 pandemic where they lost €150 million.

The club returned to profit for the first time since the pandemic in 2022-23 – for 2021-2022, the team announced a loss of almost €32 million.