German soccer team Borussia Dortmund has seen its profits plummet over last year, when it sold two players and advanced to the German final. This time around, fewer sales and an early elimination dragged down profits.
One of Germany's leading soccer clubs, powerhouse Borussia Dortmund, saw its net profits plummet 77 percent this year on account of fewer player sales, the team announced Thursday.
The market-listed club said its net profits had fallen to 12 million euros ($16 million) from 51.2 million euros in the previous season, when it sold midfielders Mario Götze and Ivan Perisic to rival FC Bayern Munich and VfL Wolfsburg.
This season's overall sales revenue totaled 260.7 million euros - 44 million less than in 2012/2013.
Of those 260.7 million euros, 40.5 million came from match operations, 81.4 million from TV marketing, 73 million from advertising, 4.5 million from transfers, 26.3 million from catering and 35 million from merchandising.
The most pronounced discrepancy over last year was identifiable in the amount of money garnered from player trades or sales.
In response to the fresh numbers, Borussia Dortmund said it would be intensifying its search for new investors.
"We are now going to engross ourselves in negotiations with prospective investors," said Hans-Joachim Watzke, Dortmund's CEO.
Reports in the media have suggested that the CEO of the Puma sports apparel company, Björn Gulden, has expressed interest in becoming a major shareholder.
Listed on Germany's SDax index, Dortmund's latest drop in profits will not affect the dividend paid to investors. It will remain at 10 cents per share.
cjc/hg (Reuters, dpa)