Introductory remarks

Hans-Joachim Watzke
Managing Director (Chairman)

Thomas Treß
Managing Director

Carsten Cramer
Managing Director

Lars Ricken
Managing Director

Dear Shareholders,

For Borussia Dortmund, financial year 2023/2024 was a fast-paced season that gave us the chance to demonstrate once more what stands us apart – our passion, team spirit and a constant drive for perfection. And even if we missed out on being crowned European champions, the club’s athletic and financial achievements are a testament to our success in the past season.

On the pitch, there were many highs and lows. Our Bundesliga finish fell short of our own expectations and left us wanting more, but making it to the Champions League final restored our pride and underscored Borussia Dortmund’s place among Europe’s elite clubs. It shows that, internationally, we can compete on equal terms with the very best, and that spurs us on for the coming season. As well as qualifying for the Champions League, the first to be played in the exciting new format, a particular highlight will be our first ever appearance at the FIFA Club World Cup. As one of only two German teams, we will test our mettle against the best clubs in the world.

In these challenging times, we have a lot to thank Edin Terzić for. He led the team to the Champions League final, and he has our utmost gratitude for his time as head coach at Borussia Dortmund. At the same time, we can look ahead with great confidence. On the one hand, we have strengthened the team with solid and well-thought-out transfers; on the other, new head coach Nuri Sahin does not just bring his extensive expertise and personal skills to the club, but a deep emotional bond too. We are convinced that Nuri Sahin and his vision for the club will raise our athletic performance to the next level.

Financially, 2023/2024 was an exceptionally successful year for Borussia Dortmund. Revenue was at an all-time high and we broke through the EUR 500 million mark (excluding transfer income) for the first time. On a particularly satisfying note, growth was achieved in all revenue streams. This milestone pays testament to our financial strength, and also enables us to make important investments in the club’s future. We have already driven forward key infrastructure investments, and will continue to do so. At the same time, we want our shareholders to participate in our success and we are pleased to announce that we intend to distribute a dividend again.

Athletic and financial aspects aside, we also made essential structural decisions this financial year to ensure that Borussia Dortmund remains fit for the future on a permanent basis. Hans-Joachim Watzke’s departure from the management at the end of 2025 means we need to act early and prepare to realign the club’s top management. This restructuring involves appointing a new Managing Director for Sport, Lars Ricken, a strong candidate who has a long-standing association with the club and brings extensive sporting expertise and a wealth of experience. He understands and deeply identifies with what makes Borussia Dortmund what it is, and he will make a decisive contribution to achieving our sporting goals and moving the club forward.

We thank you for your trust and your support and know we can rely on your passion and zeal again in the coming season. Let’s face the challenges together and make the most of the opportunities that lie ahead.