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Borussia Dortmund posted profit
Germany - 19 February, 2007
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Bundesliga club Borussia Dortmund announced that for the first half of the financial year its operating profit was EUR 8.2 million compared to a EUR 1.4 million loss for the period last year.
Borussia, which is the only German football club listed on the Frankfurt stock exchange, has done well financially after almost going bankrupt three years ago.
Cost-cutting measures such as reducing the overall wage bill, re-aligning debt repayments and repurchasing its home stadium, Westfalen, provided positive results.
The club's liabilities dropped from EUR 53.8 million to EUR 42.5 million.
The entire staff was asked to take a 25 percent cut in wages while those that received large paychecks, such as club-record signing Marcio Amoroso, were forced to leave.
The club took control of its stadium with the sponsorship of Signal Iduna. The stadium holds 80,000 fans and provides the largest income from gate receipts in the Bundesliga.
Borussia, which is the only German football club listed on the Frankfurt stock exchange, has done well financially after almost going bankrupt three years ago.
Cost-cutting measures such as reducing the overall wage bill, re-aligning debt repayments and repurchasing its home stadium, Westfalen, provided positive results.
The club's liabilities dropped from EUR 53.8 million to EUR 42.5 million.
The entire staff was asked to take a 25 percent cut in wages while those that received large paychecks, such as club-record signing Marcio Amoroso, were forced to leave.
The club took control of its stadium with the sponsorship of Signal Iduna. The stadium holds 80,000 fans and provides the largest income from gate receipts in the Bundesliga.
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