BERLIN (Reuters) — Borussia Dortmund will be debt-free by the end of the year and flexible to fund growth on and off the pitch after a 114 million euro ($147 million) capital increase was completed on Wednesday, said club CEO Hans-Joachim Watzke.
Last season’s Bundesliga runners-up, who almost went broke in 2005, got the considerable cash injection and saw sponsors Puma, Evonik and Signal Iduna buy a stake in the traditional German club.
“Borussia’s financial debts will be a thing of the past by the end of the year,” Watzke told Reuters in an interview on Friday.
“I expect that in the coming weeks the financial debts will be zero. Now it is more about settling the amount of the pre-payment penalty.”
“Obviously our fixed deposit account will greatly benefit from this capital increase but we need that in order to fund our growth.”
Dortmund were on the brink of bankruptcy less than 10 years ago but have now become the second richest German club behind Bayern Munich, posting a turnover of 260 million euros for the 2013/14 season, with Watzke at the helm.