Borussia Dortmund has released preliminary financial figures for 2024/25, revealing a stark contrast between record revenue and collapsing profits. The club’s €526 million turnover marked an all-time high, but net income plummeted 85% to just €6.5 million. The dramatic decline stems from the absence of blockbuster transfers like Jude Bellingham’s €98 million move to Real Madrid in the prior year, with current player sales generating only €37.8 million. Operational performance also deteriorated, as EBITDA fell 23% to €115.9 million. While broadcasting revenue rose to €227.2 million, merchandise sales dropped sharply to €40 million. Despite the profit crash, management proposes maintaining last year’s €0.06 per-share dividend—a bold move given the financial squeeze.
Leadership Transition Looms
The financial downturn coincides with the impending departure of Dortmund’s long-serving CEO, whose final press conference will highlight these challenges. Although revenue grew 11% year-over-year, profitability remains under pressure. Investors appeared unfazed, with shares edging up 1% to €3.67, suggesting the weak results were anticipated. The recent €65 million sale of Jamie Gittens to Chelsea may improve next year’s balance sheet, but questions persist about Dortmund’s reliance on transfer windfalls to sustain operations.
