Expected revenue trend
Income from match operations
Season tickets for the following season went on sale as usual at the end of the financial year and were capped at the customary limit of 55,000. Borussia Dortmund expects to fully exploit the earnings potential of match operations in the coming financial year as well. As in the previous season, 17 Bundesliga home matches are therefore planned for the new season. Compared to the 2025/2026 season, Borussia Dortmund still plans to play one home match in the DFB Cup. In the season ended, Borussia Dortmund played five home matches in the UEFA Champions League. Its planning for the 2026/2027 season assumes six home matches (reaching the round of 16 via the knockout phase play-offs). As in previous years, ticket prices for the coming season were moderately adjusted for inflation.
Income from advertising
Qualifying for the league phase of the UEFA Champions League continues to place Borussia Dortmund in a better financial position. Playing and delivering positive performances in the competition can widen the club’s media and brand coverage, which promotes the club’s interaction with existing fans and encourages others to begin following Borussia Dortmund. The club intends to promote these effects with a progressive internationalisation strategy that is regularly tailored to current trends. In light of this, Borussia Dortmund aims to further expand and professionalise its digital presence. Borussia Dortmund thereby responds to social trends and to a large degree leverages the attractiveness of the Borussia Dortmund brand.
In addition to boosting its digital presence, Borussia Dortmund is reaching out to fans and partners at the local level throughout the world. Borussia Dortmund’s international marketing activities in recent years focussed in particular on expanding its partnerships in the United States, which it has identified as a target market and where the team set off on a summer tour in July/August 2023 and where it opened a permanent representative office and formed BVB Americas Inc. in New York in March 2024. For some time now, Borussia Dortmund has operated a football academy in the United States, which organises training camps in 18 cities throughout the country from its home base in Dallas, Texas. This will enable the club to serve the American market in an even better, more targeted manner. This was particularly important in the context of the 2025 FIFA Club World Cup and the 2026 FIFA World Cup. From a reputation and brand perspective, BVB leveraged its presence in the US and its digital visibility to teach Americans about Borussia Dortmund’s unique history. This allowed the club to step up engagement efforts with the general public to win them over as customers and fans and with companies to gain future partners, and to further strengthen existing partnerships.
The focus in the 2026/2027 financial year now turns to the Asian market. Borussia Dortmund embarked on its “BVB Evonik Japan Tour” from 26 July to 2 August 2026. Borussia Dortmund used the tour to play test matches against the Japanese clubs Cerezo Osaka and FC Tokyo in an effort to maintain its presence in Asia. Borussia Dortmund is also represented in Asia by its two companies BVB Asia Pacific Pte. Ltd. and Borussia Dortmund Football (Shanghai) Co., Ltd. The goal of such trips, which are a key component of Borussia Dortmund’s internationalisation strategy, is to bring the club even closer to and connect with its international fan communities and partners and give all fans from around the world the chance to immerse themselves in the world of Borussia Dortmund. The growing international awareness of the brand that this gives rise to allows the club to tap foreign markets and unlock further potential income sources.
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. This purpose-driven partnership creates the basis for addressing the relevant target markets with precision and efficiency. The innovative, separate marketing sponsorship deal for the training kit (REWE Dortmund SE & Co. KG until 2030) has opened up further income opportunities.
As part of its digital modernisation efforts, Borussia Dortmund is continuously improving the digital infrastructure at SIGNAL IDUNA PARK in particular, with a view to becoming even more attractive to fans and sponsors alike.
Borussia Dortmund also maintains close and longstanding partnerships with its sponsors. Borussia Dortmund’s long-term partnership with the global sports marketing agency SPORTFIVE Germany GmbH, its marketing partner since 1999, runs until 30 June 2031. The collaboration covers all areas of marketing, such as the acquisition of sponsors, the expansion of partnerships and the marketing of the hospitality areas at SIGNAL IDUNA PARK. Borussia Dortmund and SPORTFIVE Germany GmbH have set themselves ambitious national and international marketing growth targets for the coming years. Borussia Dortmund considers SPORTFIVE Germany GmbH to be a strong and reliable partner with a global marketing network and extensive expertise. Borussia Dortmund has entered into long-term contracts with its strategic partners (Vodafone Group until 2030, PUMA International Sports Marketing B.V. until 2034, and SIGNAL IDUNA Group until 2031), which give the club planning certainty. In the 2026/2027 season, Borussia Dortmund will also benefit from advertising income it generates in the hospitality areas from the West catering annex it commissioned in the 2024/2025 season. For the 2026/2027 season, Borussia Dortmund is also investing in particular in the modernisation of its “Borussia Park” hospitality area, with a view to making it more appealing and unlocking additional earnings potential beginning in the coming season. Borussia Dortmund also extended various other sponsorship relationships and entered into new contracts. The club has lost none of its appeal, despite the recent pandemic and tense global economic situation. As such, Borussia Dortmund will also operate in a demanding market and competitive environment in the coming season and expects income from advertising to rise.
Income from TV marketing
Particular focus will be placed on income from TV marketing in connection with the expected general economic environment and the Company’s expected performance.
Bundesliga GmbH once again surpassed the billion-euro mark in awarding the German-language media rights for the 2025/2026 to 2028/2029 seasons, marking a continuation of the high income level seen in recent years. Bundesliga GmbH has secured proceeds of on average EUR 1.12 billion per season for the 2025/2026 to 2028/2029 media rights cycle. This corresponds to total proceeds of EUR 4.48 billion and an increase of around 2% on the previous cycle. Bundesliga GmbH has also informed the clubs of the Bundesliga and Bundesliga 2 specifically about the expected total distribution volume of approximately EUR 1.32 billion for the 2026/2027 season – less EUR 10.0 million for the purposes of the Bundesliga’s internal financing. Accordingly, Borussia Dortmund can expect income of approximately EUR 82.6 million. The announced disbursements of the TV funds will allow for a good degree of planning. Nevertheless, a 2026/2027 season without interruptions as well as timely payments by partners in line with their contracts is essential for ensuring the amount and timing of the envisaged distribution payouts. On 1 July 2023, Bundesliga GmbH and the German Football Association (DFB) entered into an agreement setting out the rights and duties of the two organisations that will expire on 30 June 2029. The agreement clearly defines the financial arrangement between the two organisations and thus also indirectly between the clubs of the first and second Bundesliga divisions, and provides long-term planning security.
UEFA also informed the clubs participating in the UEFA Champions League about the expected income distribution from the competition, which will total approximately EUR 2.47 billion in the 2026/2027 season. Having qualified for the UEFA Champions League, Borussia Dortmund will receive a portion of the lucrative disbursements. From the 2024/2025 season onwards, UEFA will divide the aforementioned total distribution amount into three pillars: starting fee; performance-related fixed amounts; and value pillar. Borussia Dortmund expects to receive approximately EUR 84.9 million in income from TV marketing from UEFA, provided the team advances to the round of 16 via the knockout phase play-offs.
Income from merchandising
Despite the team’s early exit in both cup competitions in the 2025/2026 season, income from merchandising in the 2025/2026 financial year remained on a par with that of previous years when the club enjoyed greater sporting success. It has also set itself ambitious merchandising targets for the 2026/2027 season. Nevertheless, as demonstrated in particular by the team’s excellent run of form to reach the UEFA Champions League final in the 2023/2024 financial year, income from merchandising is also always dependent on the team’s performance on the pitch and the overall state of the economy.
Conference, catering and miscellaneous income
In addition to catering income on match days, marketing the stadium unlocks further income potential. This includes organising stadium tours and hosting external events in the hospitality areas. For the 2026/2027 season, Borussia Dortmund is investing in particular in the modernisation of its “Borussia Park” hospitality area, with a view to making it more appealing and unlocking additional earnings potential beginning in the coming season. Borussia Dortmund will also generate additional conference, catering and miscellaneous income in financial year 2026/2027 as the club hosts and the team plays in the Franz Beckenbauer Super Cup at SIGNAL IDUNA PARK. Football training courses are also on offer. Furthermore, Borussia Dortmund expects to earn release fees for national team players, including in connection with the 2026 FIFA World Cup.
Net transfer income
Transfer deals are an important part of Borussia Dortmund’s business and, as in previous years, represent a significant source of income. However, in view of the developments in the economic environment, Borussia Dortmund on principle only takes transfer income into limited account in its planning. The transfer policy nevertheless presents significant opportunities to generate substantial income. Consequently, transfer deals are always assessed against the background of the current season. High transfer sums often go hand in hand with a drop in quality within the team, but it cannot be ruled out that value-driven transfers will be concluded contrary to the Company’s sporting interests. Given Borussia Dortmund’s sustained success, its players are increasingly piquing the interest of other top clubs.
A dynamic transfer market is also expected for the summer of 2026. High transfer fees are primarily and typically paid in the English Premier League, the Middle East or for veritable superstars, so a few highly lucrative transfer deals can be expected. The European leagues remain particularly attractive for talented youngsters. Given the high quality of its squad, Borussia Dortmund expects to have a number of potentially lucrative transfer opportunities in the coming financial year, as well as a significant earnings contribution from transfer deals.