Deutsche Bank In Talks With Borussia Dortmund About 10% Stake In Club For $32M
Financial institute Deutsche Bank and Bundesliga side Borussia Dortmund "are reportedly in talks about a 10% stake in the club" for €23.5M ($32M), according to BILD. Dortmund Managing Dir Hans-Joachim Watzke, Deutsche Bank VP Jürgen Fitschen and Chair Rainer Neske "have held preliminary talks." The publicly traded club "is currently valued" at €235M ($320M). During the previous fiscal year, Dortmund generated €305M in revenue and had a profit of €51.2M. The financial institution "could enter the club through an increase in capital." Dortmund "has been interested for months to find one or several strategic partners to compete with league rival Bayern Munich." Bayern "generated millions through investments from Allianz, Audi and adidas," which all hold a 8.33% stake in the club, and used the money to buy players like Franck Ribery, Arjen Robben and Mario Götze (BILD, 6/5).