Capital expenditure and financial planning
The highest priorities for developing the club's core business will be making the club more competitive and improving its infrastructure. Therefore, the Group will invest in particular in the professional squad as well as SIGNAL IDUNA PARK, the adjoining infrastructure and especially the training ground.
Investments in the upcoming season will focus primarily on expanding the training ground in Brackel. Since opening in 2006, the training ground has been expanded in five phases. In the next phase, the training ground will be expanded to house a portion of the administration and communication functions that primarily focus on the footballing aspects of the business. Ultimately, the centralisation will unite and further professionalise all footballing functions. Consolidation in all aspects of sport facilitates both control and the organisational effort. The strategic planning is designed in such a way that further construction measures can be implemented in the coming years.
Borussia Dortmund is currently designing its new fan and youth centre, which will be located on the Strobelallee. The centre will offer a variety of programmes intended above all to improve communication with the fans and to establish it as a type of community centre for fans.
In addition to the annual maintenance and modernisation measures, technological investments will be made in SIGNAL IDUNA PARK in the upcoming season, including installing LED advertising boards in the stadium's upper stands.
Another major project will be the stadium's flood lights. After the illumination levels are modified, Borussia Dortmund will meet any and all requirements imposed by football associations and the league and will be able to host matches for the 2024 European Championship.
In order to mitigate and avoid financial risk, Borussia Dortmund in principle pursues a conservative and extremely prudent capital expenditure strategy and will not count on any uncertain sporting successes.
Expected liquidity trend
Borussia Dortmund expects cash flows from operating activities in financial year 2019/2020 to exceed EUR 140 million. This figure may deviate significantly due in particular to transfer deals or if actual events differ from the forward-looking statements in the forecast concerning the club's sporting success. Free cash flow is expected to amount to EUR 35 million.