German soccer giants Borussia Dortmund have posted a loss of US$52.2 million for the 2019/20 financial year, largely due to lost match-day revenue during the coronavirus lockdown.
Dortmund, who finished runners-up in the Bundesliga last season to Bayern Munich, were heavily hit by being unable to host fans at their 81,000-capacity Signal Iduna Park as a result of the Covid-19 pandemic, resulting in a major decrease on the US$20.7 million profit they were able to make in 2018/19.
The accounts also revealed that Dortmund’s consolidated earnings before interest, taxes, depreciation and amortisation (Ebitda) amounted to US$75.2 million, US$63.2 million less than the club posted last year.
– Revenue from TV rights, the club’s main source of income, increased by 1.4 per cent to US$202 million
– Sponsorship revenue was also up to US$117 million, a 1.2 per cent year-on-year increase.
– Events and catering income from Signal Iduna Park was up 16.1 per cent, generating US$43.6 million.
Hans-Joachim Watzke, Dortmund’s chief executive, blamed the hit to the club’s finances on lost ticket sales and matchday revenue, including advertising and hospitality income.
“Of course, we are all poking around in the dark a bit as long as there is no spectator income,” said Watzke.