February 27 – Bundesliga club Borussia Dortmund’s relationship with sponsor and shareholder Evonik is being reduced further following the chemical giant’s sale of 4.95% of its shares for a reported €35 million, profit of about €15 million on their initial value in 2014.
Last week the club announced that Evonik would be moving away from its Bundesliga shirt sponsorship, being replaced by digital games and services provider 1&1 from the start of next season. Evonik will retain its logo on the Dortmund shirt for European and friendly competition as well as the DFB Pokal domestic knockout tournament, through to 2025.
The share sale sees the club’s largest stockholder reduce its ownership from 14.78% to 9.83%.
Evonik first bought into the club with a €26.7 million, 9.06% stake in June 2014. This was wrapped up as part of an 11-year partnership extension with the club. Despite taking profit, Evonik remains the club’s largest shareholder. Other sponsor shareholders include stadium naming rights holder Signal Iduna with 5.43% and kit provider Puma with 5%.
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