Development of the market and competitive environment
Sponsorships
In the 2025/2026 season, Borussia Dortmund entered into a partnership with the Vodafone Group, which includes Vodafone Deutschland GmbH, as its new and exclusive primary kit sponsor for all national and international competitions. The partnership encompasses more than just kit sponsorship. For example, Borussia Dortmund and Vodafone are launching an innovation and technology offensive to create new digital experiences for BVB fans and Vodafone customers alike. The contract has a minimum term until 30 June 2030. The contracts with Borussia Dortmund’s previous primary kit sponsors Evonik Industries AG and 1&1 Telecommunication SE expired as scheduled at the end of the 2024/2025 season. Evonik Industries AG remains a sponsor of Borussia Dortmund, as a Champion Partner until 30 June 2030. After more than 20 years of collaboration, the partnership is shifting its focus onto sustainability and health-related matters and on expanding the partners’ international presence.
Borussia Dortmund welcomed two new Champion Partners at the beginning of the 2025/2026 season: Swedish performance electric car manufacturer Polestar as its official mobility partner (until the end of June 2028), and food retailer REWE (until 30 June 2030). REWE furthermore features on BVB’s training kits. Polestar is also sleeve partner in all competitions in the 2025/2026 season.
The contract with Champion Partner Pluto TV Europe GmbH has been extended by one year until 30 June 2026.
In the 2025/2026 season, Borussia Dortmund added Konami as a new Premium Partner. The contract runs until 30 June 2028. In January 2026, the global technology group Lenovo became Borussia Dortmund’s official AI Innovation Partner and also a Premium Partner (until 31 December 2027). In April 2026, Borussia Dortmund and the leading German online gambling platform StarGames extended their premium partnership early until 30 June 2029. In early May 2026, OBO Bettermann – the worldwide leading specialist in installation systems for electrotechnical equipment – deepened its longstanding partnership with Borussia Dortmund to become a Premium Partner and at the same time extended its sponsorship contract early by a further four years until 30 June 2030. Animal health specialist Elanco Deutschland GmbH, best known for its AdTab brand and products, will join Borussia Dortmund as a Premium Partner for the upcoming season (until 30 June 2029).
Transfers and player loans
The following players left Borussia Dortmund permanently during the 2025 summer transfer window: Jamie Gittens (transfer to Chelsea FC; see ad hoc disclosure dated 3 July 2025), Soumaïla Coulibaly (to Racing Strasbourg), Youssoufa Moukoko (to FC Copenhagen), Giovanni Reyna (to Borussia Mönchengladbach) and Sébastien Haller (to FC Utrecht). The players Diant Ramaj (on loan to 1 FC Heidenheim) and Kjell Wätjen (on loan to VfL Bochum) left Borussia Dortmund on a temporary basis for the 2025/2026 season. Neither of the loans includes a purchase option. Borussia Dortmund terminated its contract with U23 player Antonio Foti early with effect from 31 December 2025; he joined third-division club SC Verl.
During the 2025/2026 winter transfer window, midfielder Pascal Groß left Borussia Dortmund to join English Premier League club Brighton & Hove Albion in the second half of the 2025/2026 season. U23 player Jordi Paulina has also permanently left Borussia Dortmund and transferred to Fortuna Düsseldorf. Offensive talent Cole Campbell moved to TSG 1899 Hoffenheim on loan until the end of the 2025/2026 season. Winger Julien Duranville is also on loan until the end of the 2025/2026 season, moving to the current Swiss champions FC Basel 1893. Centre-back Aarón Anselmino returned to Chelsea FC early after being on loan to Borussia Dortmund in the first half of the 2025/2026.
Capital expenditure
In summer 2025, Borussia Dortmund signed Portuguese striker Fábio Silva from Wolverhampton Wanderers (contract until 30 June 2030) as well as midfielder Carney Chukwuemeka from Chelsea FC (contract until 30 June 2030), who had already played for Borussia Dortmund on loan in the second half of the 2024/2025 season and during the 2025 FIFA Club World Cup. Borussia Dortmund also signed Patrick Drewes from VfL Bochum (contract until 30 June 2027), adding a further goalkeeper to the squad. In mid-May 2025, Borussia Dortmund signed left-back and Sweden international Daniel Svensson, who had already been on loan at Borussia Dortmund since early February 2025, and with effect as at 1 July 2025 entered into a long-term contract with him until 30 June 2029.
Borussia Dortmund has signed Brazilian left-back Kauã Prates from Cruzeiro Esporte Clube for the 2026/2027 season. The player’s contract runs until 30 June 2031 and enters into force in the 2026/2027 financial year.
Contract extensions
In the 2025/2026 financial year, the club signed early, long-term extensions with several of its professional players and coaches. At the end of August 2025, Borussia Dortmund and head coach Niko Kovač agreed to extend his contract early until 30 June 2027. Backup goalkeeper Alexander Meyer also extended his contract in December 2025 by a further year until 30 June 2027. In March 2026, Borussia Dortmund and Felix Nmecha agreed to extend the Germany international’s contract early by a further two years until 30 June 2030. Also in March 2026, Borussia Dortmund signed Italy U19 international Luca Reggiani to a long-term professional contract. Furthermore, in March 2026, team captain Emre Can also extended his contract, which was due to expire at the end of the 2025/2026 season, by a further year until 30 June 2027. In April 2026, Germany international Nico Schlotterbeck and Borussia Dortmund agreed to an early contract extension until 30 June 2031. The following month, Borussia Dortmund signed winger Samuele Inácio until 30 June 2029.
TV Marketing
Bundesliga GmbH has informed the clubs of the Bundesliga and Bundesliga 2 about the expected total distribution volume (approximately EUR 1.33 billion) and the corresponding payout dates for the 2025/2026 season (2024/2025: EUR 1.40 billion). The announced disbursements of the TV funds allowed for a good degree of planning for the 2025/2026 season. The approximately 4.8% decrease in the projected total distribution amount is due primarily to the fact that the 2024/2025 season was the final season covered by the national media rights allocated by Bundesliga GmbH for seasons from 2021/2022 to 2024/2025, under which income averaging EUR 1.1 billion (total of EUR 4.4 billion) was generated for the clubs, with the distributions increasing with each passing season.
UEFA also informed the clubs participating in the UEFA Champions League about the expected income distribution from the competition, which totalled approximately EUR 2.47 billion in the 2025/2026 season (2024/2025: EUR 2.47 billion). Having qualified for the UEFA Champions League, Borussia Dortmund received a portion of the disbursements, which remain lucrative.
In terms of the FIFA Club World Cup 2025, Borussia Dortmund received the equivalent of EUR 11.15 million distributed by FIFA for reaching the quarter-finals.
Match operations
In financial year 2025/2026, Borussia Dortmund played all of its 23 Bundesliga, UEFA Champions League and DFB Cup home matches to nearly sell-out crowds. As well as the public area, tickets for the hospitality areas were also virtually sold out.
Season tickets for the following 2026/2027 season went on sale as usual at the end of the financial year and were once again capped at the customary limit of 55,000.
Other
In a departure from previous years, on account of its participation in the 2025 FIFA Club World Cup in the US in the summer of 2025, Borussia Dortmund opted against additional pre-season tours. As such, it only held a short training camp in Saalfelden, Austria, from 4 August to 9 August 2025.
At the General Assembly of Bundesliga e. V. in Berlin at the beginning of September 2025, the 36 clubs of the Bundesliga and Bundesliga 2 decided on the composition of the Bundesliga Executive Committee in the period to 2029. Hans-Joachim Watzke was re-elected as league president and thus also as Chairperson of the Supervisory Board of Bundesliga GmbH. Thomas Treß was elected as Deputy Chairperson of the Bundesliga e.V. Licensing Committee, which makes the association’s final internal decisions in the licensing procedures.
At the end of September 2025, Borussia Dortmund became the first German professional football club to publish a sustainability statement in accordance with the Corporate Sustainability Reporting Directive (CSRD) adopted by the European Union (EU). This separate combined non-financial Group report based on the CSRD can be found at https://aktie.bvb.de/en/sustainability/sustainability-reports.
As announced, Hans-Joachim Watzke has resigned as Managing Director and Chairperson of the Management and terminated his managing director service agreement. Hans-Joachim Watzke took this step with immediate effect at the Annual General Meeting of Ballspielverein Borussia 09 e.V. Dortmund on 23 November 2025. The Annual General Meeting elected Hans-Joachim Watzke as President of Ballspielverein Borussia 09 e.V. Dortmund. In addition, Daniel Lörcher was elected as Vice President and Silke Seidel as Treasurer. The three henceforth form the new Executive Board of Ballspielverein Borussia 09 e.V. Dortmund.
Following Hans-Joachim Watzke’s departure from the management of the general partner (Borussia Dortmund Geschäftsführungs-GmbH) of Borussia Dortmund GmbH & Co. KGaA on 23 November 2025 (see corporate news from the same date), the Executive Committee of the Advisory Board of Borussia Dortmund Geschäftsführungs-GmbH resolved the following on 26 November 2025 (see ad hoc disclosure from the same date):
Carsten Cramer will now assume the role as Chairperson of the Management (CEO) and, in addition to his “Marketing”, “Sales”, “Digitalisation” and “Internationalisation” areas of responsibility, will also assume responsibility for “Communications” and “Strategy”.
Svenja Schlenker joins Carsten Cramer, Thomas Treß and Lars Ricken on the management team and will be responsible for “Human Resources”. She will continue to head girls’ and women’s football throughout the entire Borussia Dortmund organisation. She has resigned as Chairperson of the Works Council.
Thomas Treß will continue to be responsible for “Finance”, “Organisation”, “Legal” and “Investor Relations”, while Lars Ricken will remain in charge of “Sports”.
As part of the strategic sustainability partnership between Borussia Dortmund and RWE, a new photovoltaic (PV) system was installed on the roof of SIGNAL IDUNA PARK during the reporting period. The associated battery storage system, which will enable the use of self-generated electricity even during periods when the sun is not shining, is expected to be completed in the 2026/2027 financial year. Overall, this action is expected to contribute to an annual reduction in carbon emissions of 1,436 tonnes.
On 9 December 2025, Borussia Dortmund celebrated its 25th anniversary on the stock exchange. The management, members of the Supervisory Board and the Works Council, shareholders, and representatives of Deutsche Börse gathered in Frankfurt for a small ceremony (see detailed corporate news from the same day).
In the previous financial year, Borussia Dortmund formed BVB Gesundheitswelt GmbH in cooperation with Essen University Hospital. At the end of December 2025, a further milestone was reached with the purchase of the plot of land, marking the transition from the planning to the realisation phase. The application for the construction permit has already been submitted.
On 22 March 2026, Borussia Dortmund and former Sporting Director Sebastian Kehl mutually agreed to end their collaboration with immediate effect. Borussia Dortmund presented Ole Book – formerly Managing Director of Sport at second-division club SV Elversberg – as his successor; Book’s contract runs until 30 June 2029.
On 21 April 2026, Bundesliga GmbH granted Borussia Dortmund the licence to play in the first Bundesliga division for the 2026/2027 season. As in previous years, the license was granted without any requirements and/or conditions.