Update: Brand appeal
Evonik’s consolidation of its partnership with Borussia Dortmund is a strong endorsement of management’s development of the BVB brand. Long-term extension of its leading sponsorship agreement enhances Dortmund’s revenue security while c €26m proceeds from Evonik’s new 9% stake will address a current spike in net player spend. The prospect of further partnerships, secured by capital increases, is welcome in terms of cash and the scope for a step-change in profit even if a stated readiness to extend ownership in quick order risks looking opportunistic.Borussia Dortmund has two reportable segments, which are responsible for the main activites of the overall Group. The first segment consists of Borussia Dortmund GmbH & Co. KGaA, which operates a professional football club including professional football squad and leverages the associated revenue potential arising from the the transfer of players, catering, TV marketing, sponsorship and ticketing. The second segment consists of the separate merchandising business, which is carried out by BVB Merchandising GmbH. In addition, Co. assumes all the marketing activities for the stadium, including the event areas, on non-match days and includes activities such as stadium tours.
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