Borussia Dortmund, Germany's only publicly listed football club, is on the verge of bankruptcy.
The Bundesliga club reported Thursday an operating loss of $35 million in the second half of last year and said the financial crisis is "threatening its existence."
Dortmund won the Champions League in 1997 and assembled an expensive international roster to try to challenge perennial power Bayern Munich. The 95-year-old club made its stock market debut in 2000 amid much fanfare. But while Dortmund won the Bundesliga title in 2002, its lack of success in European competitions has driven the club to the edge of ruin. The team is currently 11th in the 18 team league.
Dortmund's operating loss was expected to widen to close at $90 million for the full business year ending June 30.
Some information for this report provided by AP and AFP.