Borussia Dortmund cuts first half losses

[jonam]

Borussia Dortmund cuts first half losses
FRANKFURT, Feb 20 (Reuters) - Borussia Dortmund sharply cut losses in the first half of its fiscal year, reaping the benefits of the Bundesliga club's revamp.
Borussia said in a statement on Monday its net loss fell to 1.4 million euros ($1.7 million) from 54.8 million euros in the same period the previous year.
The club has launched a radical restructuring and slashed wages for players after warning that it could go bust in the face of record losses and debt....

Source: http://sports.yahoo.com/sow/news?slug=reu-borussia&prov=reuters&type=lgns

[Hypo-Luxa]

wow..that is great to see! It's good to know that all of the work being put forth is paying off. Now hopefully next season will be a stable one and the building can begin anew with finding Rosicky's replacement.

[footyfan1]

wow..that is great to see! It's good to know that all of the work being put forth is paying off. Now hopefully next season will be a stable one and the building can begin anew with finding Rosicky's replacement.


We already have Rosicky's replacement. Steven Pienaar.

[Dead Fingers]

I would asume you could get a few quality replacements w/ "Rosicky money" and add some depth?

[The Old Lady Hertha]

Things that BVB should get IMO (this coming from a non-BVB fan so elaborate or disagree if you want):

Right back: Don't trust Degen

Other than that, keep on being financially sound...you have a good squad that can hold the fort; keep cutting losses until the club is on really sound footing. I'm not quite convinced yet that you guys are exactly right yet

[footyfan1]

I would asume you could get a few quality replacements w/ "Rosicky money" and add some depth?


I don't think so. I would think that Rosicky's transfer fee is part of the recovery plan and would go to pay debts.

Even if it isn't, I don't think we need too much more depth. Depth-wise, I think all we're really lacking is a reliable backup for Dede.

I don't think we need more depth, I think we need more experience, more heart and an injection of killer instinct.

This is what I think our team will look like next season. I cheated and used Transfermarkt.de.



Goal

Weidenfeller, Meier

Young player not included who could play a role in case of injury: Pirson (20)




Defense

Degen, Woerns, Metzelder, Brzenska, Dede, Amedick, Hunemeier (In emergencies, add Kringe)

Young players not incuded who could play a role: Heitmeier, Rammel (Both 20) - From what I hear, Rammel is a hot prospect.




Midfield

Kehl, Kringe, Sahin, Pienaar, Ricken, Kruska, Saka

Young player not included who could play a role: Caliksan



Strikers

Smolarek (Could also play midfield), Odonkor, Amoah, Buckley, Gambino, New Striker (Current rumors surround Frei and Klimowicz)

Young players not included who could play a role: Akgun, Tyrala

[footyfan1]

Things that BVB should get IMO (this coming from a non-BVB fan so elaborate or disagree if you want):

Right back: Don't trust Degen

Before the winterpause I would have wholeheartedly agreed with this. However, Degen has been one of the team's best players since the re-start. He's quickly earning the trust and respect of the fans. Myself included. Looks like he went through a rebellious phase and is now playing the way van Marwijk wants him to play.

He still has more trust to earn but he's getting there.




Other than that, keep on being financially sound...you have a good squad that can hold the fort; keep cutting losses until the club is on really sound footing. I'm not quite convinced yet that you guys are exactly right yet

I think we have most of the talent, we just need experience and attitude (Read: "Killer Instinct"). The key to that was being able to hold on to players such as Kehl, Dede, Woerns, Metzelder, Ricken and Kringe. I think we have a superb nucleus. We just need to add the experience and attitude.

[Dead Fingers]

@ footy

Thanks for the "lineup". Yes, a sale of Rosicky would also help the debt. Maybe I am remembering wrong from the start of the season about you guys needing some backup as several players were injured. :confused: If you are happy w/ their depth...cool.

[footyfan1]

@ footy

Thanks for the "lineup". Yes, a sale of Rosicky would also help the debt. Maybe I am remembering wrong from the start of the season about you guys needing some backup as several players were injured. :confused: If you are happy w/ their depth...cool.


I'm happy with the number of players we have, but it's as I said in the first message. They just need experience and attitude. That will come with time and training. :)

I mentioned the one injury that killed us most as the person I said we do need a reliable backup for. That guy is Dede. We need a reliable backup for Dede. The rest I'm happy with. You have to remember, at one point, in a few positions, we had not only the starter, but the backup injured too.

Even FC Bayern would have problems with those kinds of injuries..........

[Dead Fingers]

I'm happy with the number of players we have, but it's as I said in the first message. They just need experience and attitude. That will come with time and training. :)

I mentioned the one injury that killed us most as the person I said we do need a reliable backup for. That guy is Dede. We need a reliable backup for Dede. The rest I'm happy with. You have to remember, at one point, in a few positions, we had not only the starter, but the backup injured too.

Even FC Bayern would have problems with those kinds of injuries..........


yeah, I was wondering if it was just a bad case of injuries.

[footyfan1]

yeah, I was wondering if it was just a bad case of injuries.


It was, but we were having injury problems when we started our good run before the winter break.

However, we only lost three straight after Dede went down. We just didn't have that backup for him and with mostly second and third string players in some important positions, we got our asses kicked.

[HeyaBVB]

It was, but we were having injury problems when we started our good run before the winter break.

However, we only lost three straight after Dede went down. We just didn't have that backup for him and with mostly second and third string players in some important positions, we got our asses kicked.
If you're right this time we should be able to survive without Dede , he still is unreplacable, but if you watch the games before the break, that we lost, most chances then came over the right side, Kringe did a decent job on left. But Degen was an insecure factor. Now Degen gets better, so Kringe can move left and replace Dede if necessary.
Imho with Kringe we have the best allrounder in the BL atm.

[footyfan1]

If you're right this time we should be able to survive without Dede , he still is unreplacable, but if you watch the games before the break, that we lost, most chances then came over the right side, Kringe did a decent job on left. But Degen was an insecure factor. Now Degen gets better, so Kringe can move left and replace Dede if necessary.


Right now, we need Kringe in midfield. We can't pencil Kringe in to backup everywhere. I do like your idea, but I'd rather get a true backup for Dede. We shouldn't need to use Kringe to back up or replace Degen in case of injury because CMetz has played well over there in place of Evanilson in the past.




Imho with Kringe we have the best allrounder in the BL atm.


I can agree with that!! :cool:

[david29]

Just getting back to the original article for a moment, what does this mean in real terms? Obviously it suggests that day in, day out we're not losing money to anywhere near the extent we once were, but where does this put in terms of overall debt figures? I tried to search beyond that original Reuters article but couldn't dig up much.

[jonam]

Just getting back to the original article for a moment, what does this mean in real terms? Obviously it suggests that day in, day out we're not losing money to anywhere near the extent we once were, but where does this put in terms of overall debt figures? I tried to search beyond that original Reuters article but couldn't dig up much.


I will do a short translation/sum-up article for schwatzgelb.com in the next couple of hours.

[jonam]

Just getting back to the original article for a moment, what does this mean in real terms? Obviously it suggests that day in, day out we're not losing money to anywhere near the extent we once were, but where does this put in terms of overall debt figures? I tried to search beyond that original Reuters article but couldn't dig up much.

Normally I don't post complete schwatzgelb.com articles on this board, but as I wrote this one within a couple of minutes and have no time to check everything....


Borussia Dortmund cut half year losses
Borussia Dortmund GmbH & Co. KGaA announced a first half loss of 1.45 Mio Euro. Compared to the losses one year before, that means a reduction of more than 53 Mio Euro (-54.8 Mio Euro one year ago).

While BVB were on the brink of bankruptcy last spring there is new hope that the club is out of the biggest mess and has a future again. Factors for the nearly balanced sheet were significantly reduced salary payments (down from 23 to 13 Mio for first half year), fewer depreciation and amortisation of fixed assets and most important not again dealing with a brand value risk of 24 Mio Euro that was included in our last balance sheet. This brand value risk has to do with a sales&lease back deal we did with insurance company Gerling.

Though it looks like we nearly spend as much money as we earn, we still profit by a debt repay moratorium that was granted by our creditors last spring and saved us. Otherwise BVB wouldn’t exist anymore (at least not in of the three top leagues) and we would have announced bigger losses. This moratorium runs until the end of 2006. That means that from 2007 on we have to face full repayment rates for the stadium deal (+12 Mio Euro) and we have to satisfy the other creditors again.

Still Borussia Dortmund was and is able to increase revenues by new sponsors and especially by selling Westfalenstadion’s naming rights to Dortmund-based insurance company Signal-Iduna for approximately 4 Mio Euro a year. Furthermore 12 months salaries will again be reduced from 26.7 to 24 Mio Euro by reduced contracts (Wörns, Ricken) and leaving players (Koller, Rosicky). Rosicky’s departure will even result in at least 10 Mio Euro extra cash. Plus Borussia will profit by Bundesliga’s new TV deal which will result in approximately 6 Mio Euro more than this season. This all together should enable us to deal with our debts from 2007 on.

Adding to that BVB’s officials are working on restructuring our debts. Plans are to strike a deal with investment bank Morgan Stanley worth more than 100 Mio Euro. With this low-interest money we would be able to buy back Westfalenstadion thus reducing stadium repayments by many millions. If this deal goes through we should be really saved and can look into a secure future.

While we are talking about cash flow there are also news on absolute debts. Those increased from 89 to 90.7 Mio Euro only, despite pumping 5.6 Mio Euro into Westfalenstadion renovation for World Cup 2006. While 90.7 Mio Euro sounds much, the club should be able to handle that, when the stadium deal has been renegotiated.

At all it seems clear that the actual board does fine work and gave Borussia Dortmund a new future. Still we should reach international competitions within the next 2 or 3 years as we won’t be able to maintain high revenues (especially sponsoring and ticket sales) like this season forever without success on the pitch.


Please david29 check whether it contains the infos you wanted. If there are further questions, reply to this thread and I will add the infos to the article tomorrow and then publish it on schwatzgelb.com. Have to leave no.....

[david29]

Thank you my friend, on several counts. Firstly, your article regarding the financial reports published earlier in the week was exactly what I was after. Watzke and boards appear to be making real inroads into the debt issue, though obviously playing European football in the next two years will also be vital. Even read some reports the other day about Turkey being offered the Westfalenstadion for their Euro qualifiers, not a bad piece of business if it works out.

Secondly, thanks for your reply on the main page's '1860' thread. That's what I was getting at, the pronunciation of the number itself when referring to the football team. Of course in english it's common to split four digit numbers into 'halves', so to speak, when mentioning it colloquially. I just wasn't sure if it was done in German.

Lastly, and unrelated to BigSoccer, congratulations on your recent article on Adam, the Borussia fan living in Newcastle. Nice to know that there are at least a couple of fellow supporters living in the land of Oz! Not to mention the fact that's it's pieces like that which keep the club website's english language section in operation.

Cheers for your great work.

[peruytu]

Nice!

What are the chances of Dortmund buying Guerrero or Pizarro? Or maybe both? :)

[footyfan1]

Nice!

What are the chances of Dortmund buying Guerrero or Pizarro? Or maybe both? :)


None! LOL!! :)

[jonam]

Borussia Dortmund cut half year losses
Borussia Dortmund GmbH & Co. KGaA announced a first half loss of 1.45 Mio Euro. Compared to the losses one year before, that means a reduction of more than 53 Mio Euro (-54.8 Mio Euro one year ago).

Source: http://www.schwatzgelb.com/redirect.php3?target=artikel.php3?welcher=1731