Turnover increased 15 percent from B99.6m ($88.8m) to B114m ($101.6m) but Borussia Dortmund chairman Gerd Niebaum explained that B61.7m ($55m) had been invested in the club and stadium in the year. Over half this sum was invested in players, the club said.
The club incurred costs of B7.7m ($6.7m) from its move to the Frankfurt stock exchange and the poor overall results is likely to discourage other German clubs from taking the IPO option.
Thomas Doerflinger, soccer analyst with the German bank Landesbank Baden Wuttemberg told sportbusiness.com
