The second-biggest sports club in Germany, Borussia Dortmund, is trying to narrow the financial gap between itself and arch-rival FC Bayern Munich. Media reports suggest the club is about to issue millions of new shares.
Germany's only stock market-listed football club, Borussia Dortmund, was set to announce a massive capital increase a day before the country's first-division Bundesliga begins its season, the business daily Handelsblatt reported Thursday.
The club intends to issue 24.6 million new shares, the newspaper said, citing business insiders. With a current share price of 4.93 euros, the club expects returns of 110 million euros ($146 million).
The sportswear manufacturer Puma and insurance company Signal Iduna - both club sponsors - have reportedly agreed to acquire substantial share packages that would give them each a 5-percent stake in the club.
Handelsblatt said Borussia Dortmund's managers had been negotiating with potential investors in the past few days, but so far the club has remained tight-lipped about the alleged capital increase.
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