{
    "title": "New deal for Dortmund CEO Watzke",
    "image": "https:\/\/images.supersport.com\/2018\/2\/HansJoachimWatzke-looks170805G300.jpg",
    "body": "<p>Having helped save Borussia Dortmund from bankruptcy Hans-Joachim Watzke has now extended his stay as chief executive of the now successful Bundesliga club until 2022.\r\n<\/p><p>\r\nWatzke, 58, has signed a four-year extension alongside Thomas Tress, Dortmund's chief financial officer.\r\n<\/p><p>\r\n\"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.<\/p><p>\r\n\r\n\"They have a tremendous bond of trust that has grown in the past 13 years.<\/p><p>\r\n\r\n\"We want to express this confidence in their abilities and their day-to-day commitment early by extending the contracts.\"\r\n<\/p><p>\r\nAlongside Tress and Rauball, Watzke, a trained lawyer, stepped in to help Dortmund secure loans in the face of massive debts in 2005.<\/p><p>\r\n\r\nThe trio rescued the club from the brink of bankruptcy after over-spending on players had drained the coffers.<\/p><p>\r\n\r\nCurrently, Dortmund are in rude financial health, especially after selling two star players.\r\n<\/p><p>\r\nOusmane Dembele joined  Barcelona in August for \u20ac105 million and Pierre-Emerick Aubameyang signed for Arsenal for \u00a356 million last month.\r\n<\/p><p>\r\nTransfers aside, the Borussia Dortmund group posted a record return of \u20ac405.7 million for the 2016\/17 season.\r\n<\/p><p>\r\nIt was the 2008 recruitment of ex-head coach Jurgen Klopp, orchestrated by Watzke and director of sport Michael Zorc, which sparked Dortmund's recent success.<\/p><p>\r\n\r\nKlopp 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.<\/p><p>\r\n\r\nHowever, Dortmund's fortunes dipped after Klopp left in 2015 to eventually join Liverpool.\r\n<\/p><p>\r\nDortmund won the German Cup last season under Klopp's successor Thomas Tuchel, but he was dismissed after a disagreement with Watzke.\r\n<\/p><p>\r\nTuchel's replacement Peter Bosz lasted only a few months.\r\n<\/p><p>\r\nHe was sacked in December as Dortmund went eight games without a league and failed to qualify from their Champions League group.  \r\n<\/p><p>\r\nThey are currently third in the Bundesliga table, 19 points behind runaway league leaders Bayern Munich, under Austrian coach Peter Stoeger.<\/p>",
    "blurb": "Having helped save Borussia Dortmund from bankruptcy Hans-Joachim Watzke has now extended his stay as chief executive of the now successful Bundesliga club until 2022.",
    "date": "2018-02-13T17:44:31",
    "author": "",
    "credit": "AFP",
    "img_credit": "Hans-Joachim Watzke \u00a9 Gallo Images",
    "category": "Germany",
    "videos": []
}