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Borussia Dortmund raise capital with Puma set to buy stake

Borussia Dortmund raise capital with Puma set to buy stake
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Bundesliga club Borussia Dortmund has received a huge financial boost in its bid to emerge from the shadows of rivals and League Champions Bayern Munich.

It has followed in the footsteps of the Munich outfit by offering a stake in the club to its sponsor Puma.

The sportswear company confirmed it is set to take up to five percent of capital stock in the club. Dortmund plans to issue up to 24.5 million shares in a capital increase worth up to 114.4 million euros.

Bayern Munich has already sold stakes in its club to commercial partners Adidas, Audi and Allianz.

Dortmund finished runners up in the Bundesliga and plan to use around 40 million of the cash to reduce their debt which in turn will allow the club to release funds for transfers and increases in player salaries.

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