DORTMUND, Germany (AP) - Main sponsor Evonik has taken a nine percent stake in Borussia Dortmund through a capital increase that raises 26.7 million euros ($36.5 million) for the Bundesliga club.
Dortmund says in a statement that Evonik, a chemical manufacturer based in nearby Essen, is also extending its sponsorship deal through June 2025. It had been due to expire on July 1.
Dortmund managing director Hans-Joachim Watzke says, “The new sponsorship agreement and Evonik’s stake in BVB mean we will be consistently able to field top players both in Germany and abroad.”
Kicker reports a second capital increase planned between July and September will raise another 24.6 million euros ($33.6 million).
The magazine estimates the two capital increases and 11-year sponsorship deal were worth over 300 million euros ($409 million) to the club.