Football: Champions Dortmund post record profits
Defending Bundesliga champions Borussia Dortmund posted a record net profit of 34.3 million euros ($44.5 million) last season, chief executive Hans-Joachim Watzke announced on Sunday.
Having been on the verge of bankruptcy in 2005, Dortmund, who have won the German league title for the last two seasons, enjoyed a turnover of 215.2 million euros for the 2011-12 season, up 42.1 percent on the previous year.
It is a far cry from seven years ago when the players had to take a 20 percent pay cut in 2005 after shares in the club plummeted by 80 percent.
"Financially, we have made more profit than any club has made in the past 50 years," Watzke told Borussia's members at the club's Annual General Meeting in Dortmund after the team completed the league and cup double last season.
By way of comparison, Bayern Munich announced post tax profit of 11.1 million euros ($14.4 million) in the middle of November, up from 1.3m in the 2010-11 season, which is the 20th year in a row the Bavarian giants have posted a profit.
With Bayern top of the league and Dortmund second, nine points behind, the Bundesliga's top clubs are enjoying success both on and off the field as Munich, Borussia and Schalke 04 have all reached the Champions League knock-out phase.
Bayern host Dortmund at the Allianz Arena on Saturday in the Bundesliga.
© 2012 AFP