BORUSSIA DORTMUNDGmbH & Co. Kommanditgesellschaft auf Aktien, Dortmund disciplinary action, acting in concert with a broad resolved that SV Werder Bremen could defer a network of cooperation partners. By clearly partial amount of 50% until a final ruling on the legal speaking out against racism and discrimination as dispute was issued by the Federal Constitutional well as by working to combat right-wing attitudes, Court, and to reject a fund model of any kind. anti-Semitism and hate speech and to ensure that Passing these costs on to the Bundesliga clubs the lessons of the past are never forgotten, Borussia would present an earnings and liquidity risk for Dortmund will continue to fulfil its social those clubs, Borussia Dortmund included. responsibility by ensuring that the atmosphere in and outside the stadium is welcoming, cosmopolitan The categorisation of social media activities as a and diverse. high-priority risk reflects the fact that new technologies not only have potential for development, The increased willingness of certain individuals to but also harbour risk potential. commit violence and defame and insult others at Social media is no longer used solely for stadiums is a risk that will continue to require the communicating with fans and followers, but utmost attention. Fan violence continued to plague increasingly also serves as an advertising platform football in the reporting period, even if the for marketing and sponsoring-related activities. 2020/2021 season was mostly played behind closed Borussia Dortmund has vastly expanded its digital doors. Prevention efforts and security plans put in presence, among other things due to the restrictions place in the previous season ensured that placed on direct contact with fans as a result of the potentially violent groups were identified in advance, ongoing COVID-19 pandemic. helping to prevent altercations to the greatest extent In order to safeguard the Company's image and possible. Borussia Dortmund will continue to prevent the unauthorised disclosure of internal counter this risk with enhanced security checks, information, all Borussia Dortmund employees camera surveillance, stadium bans and criminal must adhere to the Company's social media complaints. Additional stadium safety measures guidelines. will continue to include specific structural changes to entrances going forward. Furthermore, Borussia Category 4 – competitive risk Dortmund and other clubs from North Competitive risk relates to factors stemming from Rhine-Westphalia signed up to "Stadionallianz gegen competition in the domestic and international Gewalt" in the reporting period, a joint initiative with professional football business. the police to more rapidly identify and isolate perpetrators, and bring them to justice. This category includes seven high-priority risks: In connection with the dispute about who should Interruptions to match operations can have cover the costs of providing security at home immense economic ramifications because nearly matches, the clubs of the first and second all of Borussia Dortmund's streams of revenue are Bundesliga divisions voted on 3 December 2019 that dependent on or influenced by match operations. the costs incurred by the Bremen police should be The ongoing COVID-19 pandemic has underscored borne in full by SV Werder Bremen. The clubs also how economically dependent the club is on a 160