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Germany

Cash-strapped Dortmund to Sell Shares

Struggling German soccer club Borussia Dortmund's acute financial problems are set to be eased with the club confirming a €25 million euro cash injection from a share sale. Around 10 million new Dortmund shares are being sold at €2.50 apiece handing the 1997 Champions League winners some much-needed financial aid. Borussia's cash-flow problems came to light last season when their financial gamble on reaching the money-spinning Champions League proved fatal. Dortmund were forced to cut player wages and sold German international Torsten Frings to Bayern Munich for €9 million in the close season.