On August 21, according to German Sky Sports, Borussia Dortmund announced group financial results for the 2025/26 financial year. Due to the club's early elimination from the Champions League in the previous season, total revenue suffered significantly, resulting in net group annual losses of €21.7 million. Sky Sports Germany attributes the primary cause of these losses to Borussia Dortmund's premature exit from the Champions League, while the club simultaneously adjusts its development model, which previously relied heavily on player transfer income to maintain profitability.

On Friday, Borussia Dortmund released its group financial data for the 2025/26 financial year. Due to early elimination from the Champions League in the previous season, the club's total revenue was significantly impacted, ultimately recording net group annual losses of €21.7 million.
Borussia Dortmund announced these figures at its annual financial press conference held on Friday. In contrast, the club had recorded a profit of €6.7 million in the previous financial year. This represents a swing of more than €20 million from profit to loss in a single year, indicating a substantial deterioration in the club's financial position.
Board member Carsten Cramer stated: "This situation clearly cannot happen again. It was a very difficult financial year, and we faced significant challenges." He also noted that Borussia Dortmund used the past year to reassess its operations and made adjustments and repositioning in several areas.
Early Champions League Exit Had Significant Impact
According to the financial data, one major factor in Borussia Dortmund's revenue decline was the team's failure to advance further in the Champions League.
In the previous season, Borussia Dortmund was eliminated by Atalanta in the Champions League playoff round, failing to reach the round of 16. As a result, the club's total group revenue fell by €65.5 million year-over-year, dropping to €526 million.
Cramer stated: "These figures are actually easy to explain, but if we don't draw the right conclusions from them, explaining these figures becomes meaningless."
Beyond the early Champions League exit, Borussia Dortmund's revenues were also affected by other factors including the Club World Cup scheduling and timing of payments, with corresponding revenues falling below previous levels. Television broadcasting revenues declined particularly sharply, dropping €58.5 million year-over-year.
However, not all revenue streams declined. Borussia Dortmund's sponsorship and commercial revenues grew again, demonstrating relatively stable performance in commercial development.
When combining the group's operating income and player transfer revenues, Borussia Dortmund's total gross revenue reached €537.2 million, a decrease of €52.4 million compared to the previous year.
Management Emphasizes: Club Remains "Very Healthy"
Despite the substantial financial losses, Borussia Dortmund's management is not pessimistic about the club's overall financial position.
Cramer believes that from a sporting perspective, the previous season was "good or satisfactory." The team performed well in the Bundesliga, but its results in the Champions League and German Cup fell short of expectations.
Finance Director Thomas Tress frankly stated that from an economic standpoint, such losses are "far from satisfactory." However, he also emphasized that Borussia Dortmund's current overall financial foundation remains solid.
Tress stated that this financial report once again demonstrates that Borussia Dortmund's operational performance remains strongly correlated with the team's sporting results. However, he also stressed: "We remain very healthy financially."
In other words, although the club suffered losses due to factors such as poor Champions League performance, it is not currently facing a serious financial crisis.
Future Strategy: Less Reliance on Major Player Sales for Profitability
Faced with declining financial performance, Borussia Dortmund has also begun adjusting its future development strategy.
Cramer stated that the club hopes to further strengthen its ability to withstand financial risks while maintaining the core structure of the existing squad where possible. Borussia Dortmund believes that the numerous transfers completed this summer have significant "future potential," and long-term squad building remains a key priority for the club.
At the same time, Borussia Dortmund hopes to move away from the model of maintaining positive financial results through the sale of key players in the future.
The club explicitly stated that the future operational objective is to "cut excess fat and become leaner." In the new development plan, digitalization and internationalization will become key growth areas.
Additionally, Borussia Dortmund's share price on the morning of August 21 stood at €3.17. Over the past 12 months, its share price has fallen by more than 13% in aggregate.
New Season Targets: Bundesliga Top Three, At Least Round of 16 in Champions League
For the upcoming 2026/27 season, Borussia Dortmund has also set clear sporting objectives.
The club aims to finish in the Bundesliga top three next season and hopes to reach at least the round of 16 in both the German Cup and Champions League.
For Borussia Dortmund, the new season is not just about whether the team can compete for the Bundesliga title again, but also directly impacts the club's financial performance in the coming year.
The early Champions League exit in the previous season has already cost Borussia Dortmund considerable economic losses. How to improve revenue stability while maintaining sporting performance and reducing dependence on Champions League results and player transfer income will be a critical operational challenge for the club going forward.
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