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

21 August 2020

BVB
Photo: PA Images "Liquidity is a major issue in such a situation so you have to manage your cash flows. You have to verify everything that is cash out – is it necessary or not?" Dortmund's chief financial officer, Thomas Tress, tells offthepitch.com, reflecting after the club posted a historic loss.

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.

Emil Gjerding Nielson nielson@offthepitch.com

Just five days ago, Borussia Dortmund's chief financial officer Thomas Tress presented a historic €44 million loss primarily due to the impact of the coronavirus pandemic. To no one's surprise, the German club have not been immune to the financial consequences of the crisis – which arguably have hit Dortmund harder than most due to Covid-19's disruption of the transfer market on which they are so heavily reliant.

We worked so hard in the past 12 years to recover the club

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