The article highlights Borussia Dortmund's financial recovery from insolvency initiated on March 14, 2005, when 444 creditors voted to approve a critical bailout plan. Led by CEO Hans-Joachim Watzke, the club navigated significant financial challenges and threats over two decades, achieving several domestic titles and establishing a strong rivalry with Bayern Munich. Watzke's leadership has witnessed both triumphs and tragedies, including a terrorist attack and recent pandemic struggles, culminating in his announcement to step down after 20 years at the helm.
If you think back to the creditors' meeting 20 years ago, then it's a success that we're even here today at all, says Borussia Dortmund chief executive Hans-Joachim Watzke.
Finally, at 3.29pm on the day which came to be known as Molsiris-Montag, the screen on the voting machine turned green: 94.4% of the creditors had agreed, and Borussia Dortmund were saved.
Watzke has overseen the highs of back-to-back Bundesliga titles under Jurgen Klopp, three German Cup wins and two Champions League final appearances.
His tenure has also featured frustrating near misses on the pitch plus an almost deadly terrorist attack and the existential threat of the pandemic off it.
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