Lower personnel costs can't stop Borussia Dortmund's €21.7 million loss

In the boardroom of Borussia Dortmund on 3 October 2026, the club unveiled its 2025/26 financial statement, revealing a loss of €21.7 million and a 12.5 percent fall in revenue compared with the previous season. Although personnel costs (Obwohl Personalkosten) have been trimmed, the deficit remains stark. The report comes from the club’s vice‑champion status in the Bundesliga.

In 2024/25 the BVB generated €526 million in revenue and posted a profit of €6.5 million. Those figures set a high benchmark that the current year failed to match, largely because of missing cup earnings.

Champions League revenue drop

The Champions League earnings shrank from €103.4 million to €72.1 million after the side exited in the playoffs against Atalanta Bergamo. The previous campaign had seen Dortmund reach the quarter‑finals against FC Barcelona, while the recent season ended at the Club World Cup quarter‑final against Real Madrid. Correspondingly, prize‑money receipts fell from €33.9 million to €11.2 million.

Transfer income and cost cuts

Transfer receipts rose by €21.5 million to reach €59.3 million, despite several high‑profile departures. Jamie Gittens left for Chelsea for €56 million, Youssoufa Moukoko for €5.5 million to Copenhagen and Giovanni Reyna for €4 million to Strasbourg. The year before, Niclas Füllkrug and Donyell Malen fetched €27 million and €25 million respectively, with payments often spread over instalments.

Personnel expenses for the licensed squad fell from €201 million to €193 million. The reduction reflects the exits of Sébastien Haller and Moukoko, both of whom were on high‑value contracts.

The club’s digital hub also lists sections such as Transfers, Community, Gaming, Support, Premium Service and Video, alongside Neueste updates and Alle News for Bundesliga followers. Detailed Analyse pieces accompany each release, and the Aus transfer list is kept current.

Even with lower personnel outlays, the €21.7 million shortfall underscores the financial volatility that can follow early exits from European competitions.

The figures highlight how tightly linked on‑field performance and commercial revenue remain for Germany’s top clubs, a reality that will shape future budgeting across the Bundesliga.