Dortmund's chief financial officer after historic loss: "My responsibility is not to calculate hope"

Speaking after Dortmund revealed their first annual loss in 12 years, Dortmund CFO Thomas Tress tells offthepitch.com the pandemic will not force the club to sell out their values.

Tress expects the coming transfer windows to split in two as big clubs continue to reign supreme while those in the middle will struggle to pay the required sums.

With equity of around €300 million, Tress does not expect having to use the financial markets to raise capital "in the short term".

In addition, a lack of live attendance will cause hesitancy among sponsors to commit to significant partnerships in a further sign of Covid-19's lasting financial consequences.