Hans-Joachim Watzke New deal for Borussia Dortmund CEO

Watzke, 58, has signed a four-year extension alongside Thomas Tress, Dortmund's chief financial officer.

  • Published: , Refreshed:
The CEO of Borussia Dortmund Hans-Joachim Watzke has extended his stay with the Bundesliga team until 2022 play

The CEO of Borussia Dortmund Hans-Joachim Watzke has extended his stay with the Bundesliga team until 2022

(AFP/File)
24/7 Live - Subscribe to the Pulse Newsletter!

Hans-Joachim Watzke, who helped save Borussia Dortmund from bankruptcy in 2005 and put the Bundesliga club on the road to rude financial health, has extended his stay as chief executive until 2022, it was announced Tuesday.

Watzke, 58, has signed a four-year extension alongside Thomas Tress, Dortmund's chief financial officer.

"Borussia Dortmund's sporting and economic success since 2005 is directly linked to the work of Hans-Joachim Watzke and Thomas Tress," said club president Reinhard Rauball in a statement.

"They have a tremendous bond of trust that has grown in the past 13 years.

"We want to express this confidence in their abilities and their day-to-day commitment early by extending the contracts."

Alongside Tress and Rauball, Watzke, a trained lawyer, stepped in to help Dortmund secure loans in the face of massive debts in 2005.

The trio rescued the club from the brink of bankruptcy after over-spending on players had drained the coffers.

Currently, Dortmund are in robust financial health, especially after selling Ousmane Dembele to Barcelona in August for 105 million euros ($124 million) and striker Pierre-Emerick Aubameyang to Arsenal for £56 million ($78 million) last month.

Transfers aside, the Borussia Dortmund group posted a record return of 405.7 million euros for the 2016/17 season.

Klopp the key

It was the recruitment in 2008 of coach Jurgen Klopp, orchestrated by Watzke and director of sport Michael Zorc, which sparked Dortmund's recent success.

Klopp developed the squad which won 2011 and 2012 Bundesliga titles, famously hammering Bayern Munich 5-2 to win the 2012 German Cup, then reached the 2013 Champions League final.

However, Dortmund's fortunes dipped after Klopp left in 2015 and eventually joined Liverpool.

Dortmund won the German Cup last season under Klopp's successor Thomas Tuchel, but he was dismissed after a disagreement with Watzke.

Tuchel's replacement Peter Bosz lasted only a few months before he was sacked in December after Dortmund failed to win in eight league games and were eliminated from their Champions League group.

They are currently third in the Bundesliga table, 19 points behind runaway league leaders Bayern Munich, under Austrian coach Peter Stoeger.

One of the challenges facing Watzke is to bring the club's hooligans into line after the German FA (DFB) fined Dortmund 50,000 euros on Tuesday for four incidents of misbehaviour by fans.

Dortmund hooligans set off flares, which interrupted the German Cup match at Magdeburg and also affected Bundesliga games against Schalke and Hertha Berlin this season.

The fine also includes Borussia fans throwing cups of beer at Schalke's coaching zone and goalkeeper Ralf Faehrmann during the 4-4 draw at Dortmund in November.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Bayern Munich Defender Jerome Boateng to visit Ghana for the first timebullet
2 Cute Pair Sulley Muntari’s wife and son were the best combo at a Black...bullet
3 CAF Confederations Cup Meet Kotoko's 18-man squad to face CARA in...bullet
4 Dele Alli Sex-tape of Tottenham and England midfielder leakedbullet
5 In Brazil Football game abandoned after ten red cardsbullet
6 Sad Tale Dong Bortey needs GHC 200 to save mother from dyingbullet
7 Ghana Premier League Hearts demand US$ 56,000 from Frank...bullet
8 La Liga Sulley Muntari takes Deportivo opportunity as...bullet
9 Sulley Muntari Ex-Black Stars midfielder passes trials,...bullet
10 Sad News Nigerian player dies in gory road accidentbullet

Top Videos

1 Video ‘My baby girl is gone’- Songo shed tears over Ebony’s deathbullet
2 Video This is what made Andre Ayew Swansea City legendbullet
3 E.K Afranie Don Bortey accuses ex-Black Stars coach of briberybullet
4 Video Akufo-Addo displays dancing skills at George Weah’s inaugurationbullet
5 Video Watch top 10 Neymar goals of all-timebullet
6 Video Sculptor of Michael Essien's statue says critics have...bullet
7 Video Meet the sculptor who designed Michael Essien's...bullet
8 CHAN Final Morocco demolish Nigeria to emerge championsbullet

Football