Borussia Dortmund report losses for the first half of the 20/21 financial year
Borussia Dortmund have reported a net loss of 26.3 million euros in the first half of the 2020/21 financial year, but there were signs of hope in the second quarter.
It’s no secret that Borussia Dortmund, like every other professional football team, have been heavily hit financially by the COVID-19 pandemic. The club have announced that they operated with a loss of 26.3 million euros from July-December 2020. But they also had a profit of 9.6 million euros in the second quarter of the financial year (from October-December 2020), which a very positive sign amid the current situation.
There are a lot of reasons for the drop in revenue but chief among them is the lack of matchday revenue for home games. Borussia Dortmund have only received 0.6 million euros from matchday day operations this season, which is down from 22.6 million euros in the same time frame last season. Another massive dip was the hospitality and events revenue has dropped from 23.9 million euros to 5.3 million euros.
On the positive side, Borussia Dortmund’s personnel expenses are down from last season. They have dropped from 111.5 million euros to 102.3 million euros this season. This is due to the BVB squad and management volunteering for pay decreases over this difficult time span.
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It was never going to be easy to deal with the lingering effects of the Coronavirus pandemic as the world continues to struggle with finding a way past it. While Borussia Dortmund won’t flourish financially in the coming months, it is encouraging to see some signs of economic life with the profit in the second quarter.