Borussia Dortmund boosted their turnover for the year 2014-15 to €276 million, up by more than €15 million from a year earlier, despite an early Champions League elimination last season.

Earnings before interest, tax, depreciation and amortisation also grew to €55 million up from €49 million a year earlier.

“We managed to make a decent year out of last season’s horror season,” club CEO Hans-Joachim Watzke said.

“When you do not have debts anymore and have cash, about €50 million, in the bank, then you do not want to compete with a bank who has more cash. You have to improve your competitiveness.”

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