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Soccer club Dortmund prepares to raise capital - German paper
August 20, 2014 / 5:05 PM / 3 years ago

Soccer club Dortmund prepares to raise capital - German paper

1 Min Read

BERLIN, Aug 20 (Reuters) - German soccer club Borussia Dortmund will on Thursday announce a capital increase that could bring it around 110 million euros ($146 million) in new funds, German business daily Handelsblatt reported on Wednesday.

The club, last season's Bundesliga runners-up, will issue up to 24.6 million new shares, the paper reported, citing sources close to the company. The report was from an advance excerpt of an article to be published on Thursday.

Sportswear maker Puma, which makes Dortmund's jerseys, and insurer Signal Iduna are prepared to take large share stakes, the report added.

Dortmund said earlier this month it was talking with potential investors and expected a result by Sept. 30, and Puma's chief executive has not ruled out an investment in the club.

Dortmund's shares closed at 4.93 euros on Wednesday, giving it a market value of about 303 million euros.

The Bundesliga season starts on Friday.

BVB and Puma declined to comment.

1 US dollar = 0.7525 euro Reporting by Victoria Bryan, Hans Seidenstuecker and Joern Poltz

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