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Money On Hook

A heated debate about the £2.6m annual salary Borussia Dortmund’s general manager Hans-Joachim Watzke made last season.

Clearly Germany is not the USA.

One cherishes the myth of equality of outcome and opportunity for advancement, as it comes to life in the phrase “rages to riches”, as a part of national identity. The other responds to wealth with envy and reservations.

It’s not helping when someone is the general manager of Borussia Dortmund, a Bundesliga club in Germany’s Ruhr valley which was famous for coal and industry and these days for high unemployment rate.

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The different perception in the USA and Germany towards money became clear in the latest discussion about the £2.6m annual salary Borussia Dortmund’s general manager Hans-Joachim Watzke made last season.

Watzke’s counterpart at Bayern Munich, Karl-Heinz Rummenigge, earned probably only £1.7m. That could be the case why Rummenigge, said: “I don’t mind if there is one category where Dortmund is top of the league.”

Is the £2.6m annual salary too much or unreasonable? What does upper management normally earn?

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Former Manchester United FC chief executive David Gill had a salary of £2.6m in 2011-2012. The annual remuneration of Arsenal’s chief executive Ivan Gazidis was £2.05m. The figures are above average in comparison to other, smaller clubs and 10 times higher then the salary of management at non-football companies in the UK.

Sure £2.6m annually is a lot of money, but in Dortmund’s case Watzke is responsible for a lot of joy on a weekly basis and for having maintained a lot of jobs.

When Watzke took over in 2005 the club faced bankruptcy with £103.1m deficit. Last year the recorded a £44.8m profit and by the way: Borussia Dortmund won the German Championship twice in a row, 2011 and 2012 and was Champions League runners-up.

A pretty good deal for Dortmund, don’t you think? Or is Watzke’s salary is too high in your mind? Or is it maybe too low?

image: © Tax Credits

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